THE global investment bank Goldman Sachs has claimed mining asteroids for precious metals is a "realistic" goal.

It has released a report exploring the possibility of using an "asteroid-grabbing spacecraft" to extract platinum from space rocks.

1 Space rocks could contain vast amounts of valuable metals Credit: Getty Images

"While the psychological barrier to mining asteroids is high, the actual financial and technological barriers are far lower," the report said, according to Business Insider.

"Prospecting probes can likely be built for tens of millions of dollars each and Caltech has suggested an asteroid-grabbing spacecraft could cost $2.6bn."

The bank added: "Space mining could be more realistic than perceived."

It is believed an asteroid the size of a football field could be worth up to £40 billion.

However, bringing that much platinum back to Earth is likely to crash the precious metal market - and probably the rest of the economy with it.

Earlier this year, NASA said it was planning a mission to an asteroid so valuable it could cause the world's economy to collapse.

MOST READ IN TECH AND SCIENCE NEXT TOP MODEL Sony opens preorders for the PS5 – here's where you can buy the console I-SNOOP How to tell when your iPhone is listening or watching you WIDGET WONDER iPhone iOS 14 update TODAY lets you put widgets on home screen – here’s how PLAY TIME PS5 release date revealed with UK getting it a WEEK later than other countries N-ICE! Snowflake is the $70BILLION tech giant that you've probably never heard of THOR BLIMEY! Some Vikings were SCOTTISH and many had brown not blond hair, study finds

It is called 16 Psyche and is a massive hunk of the iron and nickel.

The mysterious "metal world" was formed during the turbulent birth of our solar system.

It is valued at £8,072 quadrillion ($10,000 quadrillion), according to Lindy Elkins-Tanton, the lead scientist on the NASA mission.