A recent report confirmed the presence of a asteroid which is believed to be some 500 meters (0.31 miles) wide. It has been spotted by Siding Spring Observatory in New South Wales, Australia, on June 10. It is believed that this asteroid was spotted in Southern Hemisphere skies, where there is not much activity as far as asteroid-watching programs are concerned.

It was found that the asteroid 2012 LZ1 managed to move safely while it was some 14 lunar distances from Earth on Thursday, June 14, thereby not affecting Earth at all. "This object turned out to be quite a bit bigger than we expected, which shows how important radar observations can be, because we're still learning a lot about the population of asteroids”, said Arecibo Observatory's Ellen Howell.

It is believed that this asteroid would not be able to affect Earth in the next 750 years. Moreover, there were observations made to know a lot more about the kind of trajectory it’s going to follow later. It has also been claimed that researchers can do a lot to divert such potentially threatening incidents but for that to do, they need sufficient time unlike in this case.