10 to 12 seconds after launch, the Antares rocket experience a "catastrophic anomaly", after which the rockets safety ranger officer activated the auto destruct.
This destruction was the loss of a $200 million rocket. It also destroyed cargo from Planetary Resources that was piggy back riding on the rocket, sending its Arkyd 3 demonstrator. Planetary Resources is a company set up by Peter Diamandis and others to look for high value asteroids in the Solar System, that have high content of rare Earth metals such as platinum. Then they send spacecraft to intercept them and bring them into Earth orbit to mine. Since platinum is so rare, it would be a profitable venture.
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