Novo Tellus Invests in Australian Mining Equipment Firm RME
Investment firm Novo Tellus has completed a significant investment in Russell Mineral Equipment (RME), a global leader in mining equipment and services. This marks Novo Tellus' first investment in an Australian company.
Investment firm Novo Tellus has completed a significant investment in Russell Mineral Equipment (RME), a global leader in mill relining systems and aftermarket services for the mining and mineral processing industries. The investment, which closed in June 2026, is Novo Tellus' first in an Australian company.
Headquartered in Toowoomba, Queensland, RME invented modern mill relining machines and has established a technological base and global service network over four decades. Its systems enable critical mineral producers worldwide to reline grinding mills more quickly and with reduced risk.
Novo Tellus will partner with Resource Capital Funds (RCF) and the National Reconstruction Fund Corporation (NRFC) to support RME's next phase of growth. This transaction finalizes the ownership succession plan initiated by RME's founder, Dr. John Russell.
Novo Tellus highlighted the strategic importance of RME's technology amid growing demand for materials powering digitalization and AI. The firm sees potential to expand RME's automation capabilities and aftermarket services globally, aiming to bring relining capacity and support closer to mining operations worldwide.