Capital that operates

Operational control.
Measurable uplift.
Outperforming returns.

We take control of underperforming mining assets and transform their performance, generating returns through execution, not commodity cycles.

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Former CEOs
Large-scale, complex assets
Tier-1 pedigree
Global mining & finance leadership
15–40%
Targeted EBITDA uplift in 12–24 months
Offices
Africa · UK & Europe · Americas · Singapore

Our leadership has operated at the world’s leading producers

Rio Tinto BHP Anglo American Glencore Kumba Iron Ore KPMG

Most capital cannot operate. Most operators cannot access capital. Mobula does both.

The model

Four capabilities, integrated into one platform

Capital, leadership and execution rarely sit together. We integrate them and take control of the outcome.

01

Aligned capital

Bespoke consortiums structured to each asset, aligning institutional and strategic capital with less friction.

02

Executive control

We lead as a controlling force, not an advisor, with direction, sequencing and governance aligned to the outcome.

03

Embedded execution

Senior operators deployed directly into the asset. Transformation is delivered, not recommended.

04

Intelligent systems

Structured systems and practical AI give real-time visibility and discipline, making performance repeatable.

The distinction

Traditional private equity extracts value. Mobula extracts and expands it.

We keep the discipline of private equity and extend it with operational control, removing constraints rather than optimising within them.

Why now

A structural shift — a new window

The way value is created in mining has fundamentally changed. Cost-out programmes and the commodity cycle no longer decide returns. Assets are larger, more jurisdictionally complex and more technically demanding, just as AI and robotics make genuine operational transformation possible for the first time. Three forces are converging to redraw who the natural owner of an asset should be, and to open a new window for those able to operate, not simply allocate.

01

Demand has structurally re-rated

AI data centres, electric vehicles and reshoring are driving relentless demand for copper and critical minerals, yet the IEA sees supply falling around 30% short by 2035. Record central-bank buying has pushed gold to all-time highs. Demand is structural. Supply is not. That rewards production, not speculation.

02

Capital has outgrown its model

There is no shortage of capital, but its incentives can become misaligned with the risk and the value opportunity. Private equity is built for financial engineering and quick exits, not the patient, hands-on transformation these assets need. As majors sell non-core mines, sound assets sit stranded: held by capital that cannot operate, and will not wait. A new model is needed.

03

Only operators can capture it

Funds optimise within limits. Large corporations cannot absorb the change that AI and robotics now demand. The edge belongs to capital led by genuine operators, powered by these technologies, to deliver step-change neither incumbent can reach.

Value creation

Returns driven by execution

We invest where operational change drives the value, through levers our team has pulled before.

+10–25%

Throughput

Debottlenecking, feed and utilisation

+3–8%

Recovery

Process and metallurgical discipline

−10–20%

Cost and Capital

Operational efficiency, maintenance, energy, supply chain, SIB

Stable

Feedstock

Sourcing, blending, contracts

Focused

Growth Capital

Highest-return initiatives first

15–40% EBITDA uplift

The outcome we target within 12–24 months of taking operational control.

Technology & intelligence

Reimagining value transformation with AI

We are building an AI-enabled operating platform that turns live operational data into better decisions, moving beyond incremental optimisation to genuine step-change in how an asset performs.

Mining is uniquely positioned to lead this shift. It is a science-based, data-rich and intensely physical industry, precisely the environment where advances in AI and robotics, including emerging real-world models, deliver structural change in cost and precision rather than marginal gains. Guided by leading operational and technical expertise, that capability can be directed where it counts and influence breakthroughs at scale.

A lean centre, the reach of a major

Real-time intelligence across every asset, decisions, not dashboards, so a small, sharp team can outperform organisations many times its size.

A compounding data advantage

Every asset we operate sharpens the system. Predictive optimisation and autonomy-ready operations build an edge that grows with the portfolio.

Step-change, not increments

Technology is how we reset the performance baseline, embedding discipline into the workflow and unlocking value the legacy operating model cannot reach.

The next era of mining is operator-led and intelligence-driven, and we are building it.

Where we play

We invest where operational change drives the value, not where the cycle does.

The team

Operators who have run the world’s most complex mining assets

Tier-1 operating leadership and institutional capital discipline, proven across multiple commodity cycles.

Themba Mkhwanazi

Themba Mkhwanazi

Founding Partner & Chairman

Former CEO of Kumba Iron Ore and Executive Leader of Anglo American's bulk commodities across Africa, Asia-Pacific and the Americas. Known for driving step-change operational performance in demanding, developing-market environments, stabilising and materially improving large-scale, complex assets while aligning governments, communities and stakeholders behind delivery.

Jeremy Brown

Jeremy Brown

Founding Partner

20+ years across the world’s leading producers, including Rio Tinto, BHP, Anglo American and Glencore, spanning operations, processing and major capital projects. Has led strategic reviews and delivered turnarounds on complex assets across Australia, Asia, Africa and the Americas, with a focus on execution and rapid, measurable uplift.

George Butterworth

George Butterworth

Founding Partner & CFO

Chartered accountant and finance & strategy executive with 17+ years at Anglo American, most recently Head of Finance for Africa & Australia, and earlier Head of Integrated Performance Improvement across bulk commodities, following seven years at KPMG. Bridges capital and operations: strategy, capital allocation, transaction and divestment structuring, and hands-on performance improvement in complex, multi-jurisdiction businesses.

The Mobula Alliance

Embedded execution capability, on demand

A curated network of senior operators from the world’s leading mining companies, deployed directly into assets on a deal-by-deal basis, delivering world-class execution without the overhead of a permanent corporate structure. It is the engine behind Mobula’s repeatable, execution-led value creation.

Get in touch

Partner with the platform

We are partnering with institutional and strategic investors to seed the platform and execute its first control-oriented transactions.

Registered office36 Robinson Road, #20-01 City House, Singapore 068877

This website is issued by Mobula Resource Partners, whose registered office is at 36 Robinson Road, #20-01 City House, Singapore 068877, for information purposes only. It does not constitute an offer, solicitation or recommendation to buy or sell any security or to pursue any investment, nor financial, legal or tax advice, and it is not directed at any person in any jurisdiction where such publication or use would be unlawful. This website has not been reviewed by the Monetary Authority of Singapore. Any investment involves risk, including the possible loss of capital; targeted or illustrative figures are objectives only, are not guarantees, and past performance is not a reliable indicator of future results. Forward-looking statements are subject to change. Any offer is made only to accredited investors and institutional investors (as defined in the Securities and Futures Act 2001 of Singapore) under separate confidential documentation. This website, and any dispute arising in connection with it, is governed by the laws of Singapore and subject to the exclusive jurisdiction of the Singapore courts.

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