NASA cancels GEMS project

Washington DC
This story is sourced from Flight International
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NASA has cancelled the Gravity and Extreme Magnetism Small Explorer (GEMS) programme, a relatively small satellite meant to study black holes. Originally scheduled for launch in 2014, the mission's budget was capped at $119 million. Once it became clear the cost would exceed that level, the programme's fate was sealed.

Roughly $50 million has been expended on GEMS so far.