#Australia #mining #Novo Tellus #Russell Mineral Equipment #Toowoomba

Novo Tellus Partners with RCF and NRFC in RME Buyout

Overview

Novo Tellus, a specialized investment firm focused on industrial and technology sectors, has announced a significant achievement — the successful closing of its investment in Russell Mineral Equipment (RME). This marks Novo Tellus's debut investment in an Australian company and positions it as a key player in enhancing operational efficiency within the global mining industry.

About Russell Mineral Equipment

Headquartered in Toowoomba, Queensland, RME is acknowledged as the world's leader in mill relining systems and aftermarket services tailored for the mining and mineral processing industries. With a remarkable history spanning over four decades, RME invented the modern mill relining machine and has cultivated a robust technology base and global service network. This expertise has crowned RME as a preferred partner for one of the highest-stake maintenance tasks in mining — relining grinding mills.

RME's advanced systems allow critical mineral producers across the globe to efficiently relining their grinding mills, drastically reducing downtime and operational risks. This capability is especially crucial now as the demand for essential materials rises amid trends driven by electrification, advancements in data centers, and the booming AI infrastructure. RME stands at the forefront of safe, efficient, and reliable metals production, embodying technologies that are indispensable in today's mining landscape.

Strategic Collaboration

Novo Tellus partners with Resource Capital Funds (RCF) and the National Reconstruction Fund Corporation (NRFC) to propel RME into its next growth phase. The closure of this investment corresponds to the final stage in RME's transitional sale agreement, fulfilling the ownership succession plan initiated by the company's founder, Dr. John Russell.

Wai San Loke, Managing Partner of Novo Tellus, expressed pride in this strategic investment, emphasizing RME's caliber and its pivotal role in the mining sector. "We seek out companies with cutting-edge technology in mission-critical fields, and RME epitomizes this. The vast majority of the global copper and gold production involves the use of grinding mills, and our relining systems play a crucial role in ensuring these operational assets remain safe and productive. As the AI revolution intensifies the demand for essential metals, RME’s technology becomes ever more strategically vital," he stated.

Future Growth Prospects

Daniel Hong and Chong Ni, partners at Novo Tellus, foresee promising growth opportunities for RME as it supports mining operations in some of the world’s most sophisticated mine sites. The existing infrastructure fosters enduring service and support relationships with clients across its installed base. They highlighted a substantial potential to enhance RME’s automation capabilities and to broaden its aftermarket services offerings, which will include increased relining capabilities and essential site services close to mining operations worldwide.

Novo Tellus is set to work collaboratively alongside RCF, NRFC, and RME’s talented leadership team to realize these ambitions and to unlock the next chapter in RME's journey.

Conclusion

The completion of this investment, which was finalized in June 2026, signifies not only a major stride for Novo Tellus into new markets but also supports the essential infrastructure of the global mining industry. Together, these firms aim to strengthen operational efficiencies and technological advancements that will ensure sustainable growth in a vital sector.

About Novo Tellus

Founded in 2010, Novo Tellus manages over $1 billion in investments, aiming to accelerate growth in technology and industrial sectors worldwide. The firm's investment approach fosters close partnerships with business leaders to enhance core products and services while prioritizing customer value.

For anyone interested in learning more about their initiatives or exploring partnership opportunities, visit www.novotellus.com.

About Russell Mineral Equipment

RME, established in 1985, has revolutionized the mill relining process, supporting over 440 mine sites in 64 countries with 13 international sales and service centers and a dedicated workforce of more than 450 professionals. For further details, please refer to www.rmeglobal.com.