Ice Ore is a type of item that can be aquired either through physical trade with another player, or through mining.
In order to mine Ice' Ore', you must first find the proper Asteroid Fields. Once an Ice Asteroid Field is found, all the player must do is shoot it with their primary weapon. With each shot landed, there is a chance that a piece of ore will break off and collected by the player.
To pick the ore up, click on the ore and then click the <E> key to send your Grappler out to retieve it. Click <E> again to return the Grappler to your ship. You will need to have 5 units of cargo free, it will be added to your inventory.