The British newspaper “Independent” reports that the founders of Google have their sights set on outer space.

The Independent reported on its online edition that Google founders Larry Page and Eric Schmidt established a company named Planetary Resources, which will explore space and mine natural resources from asteroids.

Planetary Resources said in a news release that space exploration and the mining of asteroids will add trillions of dollars to the global gross domestic production. The company will announce detailed business plans on Tuesday.

The British daily said that the establishment of Planetary Resources comes just as scientists are embracing the idea of mining "near-Earth asteroids.”