Australian mining tech firm RME receives investment from Singapore’s Novo Tellus

The closing of a sizable investment in Russell Mineral Equipment (RME), a company that provides mill relining systems and aftermarket services to the mining and mineral processing industries, was announced on Wednesday by Novo Tellus, a Singapore-based investment firm that specializes in industrial and technology companies.

According to a statement from the company, this is Novo Tellus’ first investment in an Australian business. It also joins Resource Capital Funds (RCF) and Australia’s National Reconstruction Fund Corporation (NRFC) in backing RME’s next stage of expansion.

The transaction completes the ownership succession plan started by RME’s founder, John Russell, and is the last step in the company’s transitional sale agreement.

RME, which has its headquarters in Toowoomba, Queensland, invented the modern mill relining machine and has spent forty years developing the technology, installed base, and worldwide support network that make it the preferred partner for one of the most critical maintenance chores in mining.

Critical mineral producers throughout the world can reline their grinding mills faster and with less risk thanks to RME’s solutions, allowing them to resume production sooner.

RME’s technologies are at the forefront of safe, effective, and dependable metals production as demand for the materials supporting electrification, data centers, and the infrastructure of the artificial intelligence (AI) revolution increases.

“We look for companies with leading technology in mission critical fields, and RME is a defining example. The vast majority of the copper and gold the world produces passes through a grinding mill, and RME’s relining systems are what keep those mills safe, productive, and available,

“As the AI revolution drives unprecedented demand for the metals that power grids, data centers, and advanced manufacturing, we believe RME’s technology has never been more strategically important,” Novo Tellus Managing Partner Wai San Loke said.

Daniel Hong, a partner, and Chong Ni, a principal at Novo, are considering the growth potential of RME. Tellus pointed out that RME has an installed base that builds strong, long-term service and support partnerships, supporting mining operations worldwide across the most advanced mine locations.

“We see significant opportunity to expand RME’s automation capabilities and to grow its aftermarket services business — bringing more relining capability, spares, and site services closer to miners around the world,

“We look forward to working alongside RCF, the NRFC, and RME’s high-performance team to realize that ambition,” the duo said.

After the transaction closed in June 2026, Novo Tellus and its partners began aggressively collaborating with RME’s executive team to shape the company’s future.