16 Psyche may be rusting. Image Credit: NASA / JPL-Caltech / ASU

An asteroid comprised of precious metals worth an unimaginable sum of money is now thought to be rusting.

Named after a figure in Greek mythology who achieved immortality, 16 Psyche, which is almost entirely made up of nickel-iron metal, is worth so much money that its value would completely dwarf the meager $78 trillion of all the world’s economies combined.

Measuring around 240km across, it is situated in the asteroid belt between Mars and Jupiter and is believed to be the exposed iron core of a protoplanet left over from the early solar system.

Now, according to new observations using the James Webb Space Telescope’s infrared instruments, scientists have revealed that this highly valuable asteroid might actually be rusting.

The evidence comes in the form of hydroxyl groups detected on the asteroid’s surface – a chemical sign that water-related processes may have occurred, possibly leading to the formation of oxidized minerals.

If confirmed, this could lead to a fundamental rethink about the origins and composition of 16 Psyche, meaning that it might have a much more complex formation history than previously believed.

NASA’s Psyche mission, which launched in October 2023, will take another four years to reach the asteroid which is located at a distance of 2 billion miles away from the Earth.

Once it gets there, scientists will be able to find out a lot more about this fascinating object.