If there was water on the moon, we could colonize it (and take an elevator there). Well, there just may be: Traces of water have been detected within the crystalline structure of mineral samples from the lunar highland upper crust obtained during the Apollo missions.

The lunar highlands are thought to represent the original crust, crystallized from a magma ocean on a mostly molten early moon. Over the last five years, spacecraft observations and new lab measurements of Apollo lunar samples have overturned the long-held belief that the moon is bone-dry. The new findings indicate that the early moon was wet and that water there was not substantially lost during the moon’s formation.
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Research on an ancient lunar rock suggests that almost 4 billion years ago, the moon once had a molten, core of liquid metal that generated a strong magnetic field.

The Daily Galaxy quotes planetary scientist Benjamin Weiss as saying, "The moon has this protracted history that’s surprising."

In 1969, the Apollo 11 mission brought the first lunar rocks back to Earth as souvenirs from Neil Armstrong and Buzz Aldrin’s historic moonwalk. Since then, scientists have studied them for clues to the moon’s history. They soon discovered that many rocks were magnetized, which suggested that the moon may have harbored a convecting metallic core that produced a large magnetic field, now recorded in the moon’s rocks.
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NASA may be planning to capture an asteroid and drag it into the moon’s orbit, giving the Moon a moon of its own.

The mission would cost about $2.6 billion–slightly more than NASA’s Curiosity Mars rover–and it would take about six to 10 years to complete the mission.

But why do it?

What NASA really wants to do is to send astronauts to a nearby asteroid, but this would expose them to long-term radiation beyond the earth’s protective magnetic field –so why not bring the asteroid to them? If we establish a base on the moon, it would be a short trip to reach it.
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