Jersey is an increasingly popular choice for businesses operating in the mining and natural resources space. As a result Jersey has an emerging community of established natural resource (and ancillary) businesses who benefit from the Island’s secure business environment and strategic geographic position.
Seabed mining company SM2 is one such company. Its co-founder, Richard Parkinson, explained as his business breaks new ground, why he decided to set up in Jersey, as the industry begins its deep dive into the unknown…
“SM2 is a seabed mining exploration company, focused on sourcing minerals and metals from the seafloor, in deep and ultra deep-sea locations. We’re right at the forefront of this emerging sector, and we don’t expect to begin any full-scale mining for another decade or so, with investigation and exploration of potential sites taking place in the coming 2-5 years. We’re particularly focused on seabed sites in the Pacific Rim such as Papua New Guinea, Japan, and the Solomon Islands, and we’re looking forward to the Jersey business being a key part of this exciting new venture.”
Pictured above: Deep-sea mineral drill core samples
"We’re managing valuable intellectual property, so it’s important for us to know that we are based in a secure, stable, reliable jurisdiction, with regulatory standards and good robust laws"
Given that mining is a truly international business, Richard found that setting up SM2’s HQ in Jersey was the best decision for a number of reasons, namely Jersey’s reputation as a centre for global operations:
“As we are a global company, with ocean research sites around the world, having good travel links and being in a convenient time-zone (GMT!) are real priorities for us, both of which Jersey certainly does offer.”
“Another big sell for us, when considering moving, was the high calibre of regulation in the Island. We’re managing valuable intellectual property, so it’s important for us to know that we are based in a secure, stable, reliable jurisdiction, with regulatory standards and good robust laws that are respected the world over.”
"...the authorities in Jersey were very welcoming and helpful."
Richard also explained how the support he has received in Jersey has made all the difference to both the business, and him personally:
“The set-up process was really smooth from a business perspective and the authorities in Jersey were very welcoming and helpful. Once we got a license to work on the Island, everything else fell into place really. Locate Jersey were especially helpful with assisting us in formulating a business plan to the practicalities of relocation and living in Jersey.”
Jersey has selection of modern and historical marinas, 3 of which are 5 gold anchor standard
"I love marine life and have a personal interest in boating, so you can't find anywhere better for that...If you want to pop over to France for lunch, it could not be easier"
Jersey hasn’t only benefited the business but also Richard, as the move to the Island has offered an accessible life by the sea which has been a remedy to the work-life balance for this avid boater.
“There’s no doubt that Jersey is a really pleasant place both to live and work. I love marine life and have a personal interest in boating, so you can’t really find anywhere better for that – we have a beautiful marina, numerous picturesque and historical harbours, and a wide selection of bays to anchor up in. If you want to pop over to France for lunch, it could not be easier, so we really enjoy that aspect.”
To discover more about the benefits and process of establishing your Natural Resource or Renewable Energy (or ancillary) business in Jersey check out our Why Jersey for Natural Resources and Renewables Page...
...Alternatively get in touch today on +44(0)1534 440604 or email firstname.lastname@example.org