It has been reported that an asteroid passed Earth at a distance of only 1.5 million, and some enthusiasts were expecting more than just its scientific importance. According to Slooh Community Observatory, asteroid 2011 UW-158 passed 30 times closer than nearest planet of Earth.

The asteroid has a core composed of platinum and is worth an estimated £3.5 trillion.According to astronomer Bob Berman, private companies are taking steps in the direction of mining on it. As per reports, the astronaut measures roughly half a mile across.

He said that a matter of the 1967 Space Treaty is there and nearly all countries have agreed to it and signed it. The treaty says that no countries can claim a celestial body, however it didn’t reveal anything regarding corporations, companies, private entities and firms, according to Berman.

Berman said that countries can’t claim a celestial object, however a private company is able to do so if they can reach there and they can excavate it, getting all that platinum.

According to him, Planetary Resources was quite interested in the idea. It launched a rocket from the International Space Station recently. He added, "At first they were hoping for the platinum which this asteroid contains but nowadays they're thinking of water, which can be more valuable or even more valuable to the International Space Station or other astronauts".

Berman said that there was nothing to fear from this specific asteroid. It passed at a distance that it is not visible to the naked eye.