Is space mining a potential business in future??

It’s an often repeated phrase that the first trillionaires will be space miners, and that will probably be true when you consider things like asteroid 16 Psyche.

This is basically a nugget of almost pure metal 200 km in diameter. Most of it’s mass is iron and nickel, but there are a lot of other metals present including stuff like gold and platinum which cannot be reliably quantified yet. At a mass of 2.41 x 10^19 kg, it’s estimated that this one object has a current value of $700 quadrillion, which is pretty impressive.

At present the capacity for significant off planet activities is pretty limited, with launch costs still in the order of $2,700 peg kg into LEO with the best current performer, a Falcon Heavy

In the end I think that apart from the rare elements, most of the material like iron and nickel will be used in off planet activities as the extra terrestrial economy develops. The cost of extraction and delivery will see to that. All this can only happen if launch costs become a trivial item, which is why things like the Starship are so important for the future of humanity.