Our Investments

Founded by Nathan Mitchell in 2008 following the sale of the group's Australian drilling operations, Mitchell Drilling International has grown into one of East Africa's leading drilling businesses. Operating a fleet of 35 rigs across Botswana, Zambia, Angola, Namibia, DRC, Rwanda, and Chile, MDI provides exploration and mine-site drilling services to tier-one mining clients. The business employs over 700 people and is the largest single business within the Mitchell Group.

Mitchell Services is an ASX-listed drilling services company and one of Australia's most diversified drilling businesses. Mitchell Group is the largest shareholder, having re-entered the Australian drilling market in 2013 via a roll-in transaction, rebranding the business and taking over management and operations. Under Mitchell's stewardship the business grew from 10 rigs to over 90, establishing itself as a leading provider of drilling services to the Eastern Australian market.

Founded by Mitchell Group to service the drilling industry with purpose-built equipment. MEH designs and manufactures its own fleet of drill rigs, mud pumps, air compressors and generators, offering complete drilling rental solutions across Australia and Africa.

Mitchell Equipment Hire is a joint venture between Mitchell Group and Partsales Botswana, supplying drilling equipment and support services to mining operations across Botswana and surrounding countries. With a team of over 80 people, MEH is one of the leading equipment hire businesses in the region.

A project generator identifying, acquiring and investing in mineral exploration across Australia. MPX targets underexplored tenements in historical mining regions and has successfully commercialised multiple projects into listed vehicles including E79 Resources (CSE:ESNR), Q2 Metals (TSX:QTWO) and SQX Resources (ASX:SQX). Nathan Mitchell is Non-Executive Chairman.

A Canadian mineral exploration company focused on lithium projects in the James Bay Territory of Quebec, and gold projects in Queensland. MPX vended its Queensland asset into Q2 as a microcap explorer. Mitchell Group has since invested via direct placements as Q2 has defined a globally significant lithium deposit — now ranked the fifth largest lithium resource in the world, including drill intercepts of 1.69% Li₂O over 215.6 metres at the Cisco project.

An emerging copper exploration and development company with projects in Botswana and Chile. Mitchell first invested via drill-for-equity in 2021 and has participated in subsequent campaigns as Cobre advances its high-grade copper discoveries. In 2024 Cobre signed a joint venture agreement with BHP to develop its Kit West project in Botswana.

A uranium and critical minerals exploration company with projects in Sweden and Canada. The flagship Vilhelmina project in Sweden is a shale-hosted uranium deposit with significant quantities of rare earth elements, vanadium, nickel and cobalt. Mitchell Group was a founding member of the project generation team, vending the licences into Neu Horizons.

One of Australia's leading manufacturers of drilling consumables. Mitchell Group took a strategic equity stake in VMW in 2008 as part of a vertical integration strategy, gaining supply chain benefit across its drilling investments. VMW has over 100 years of combined staff experience in drilling industry manufacturing.

A Mitchell Group-founded greenfields copper exploration company operating in Zambia. Mbulundu Copper Limited is targeting high-grade copper discoveries in one of the world's most prospective copper belts.

A privately owned gold company co-founded in 2017 by Nathan Mitchell alongside partners from SMS Mining and Rivet Group. Adaman acquired and operated the Corinthia and Kirkalocka gold mines in Western Australia, building toward 150,000 ounces per annum production. Mitchell sold down the majority of its investment in 2019.

An ASX-listed graphite exploration and development company focused on Mozambique. Mitchell Group invested progressively from 2015 via a series of drill-for-equity transactions. Mitchell exited in 2023.

A cornerstone investment made in 2009 backing a start-up exploration and mining consultancy. With Nathan Mitchell on the board, Salva became the ninth fastest growing company in Australia in 2011, expanding to offices in Brisbane, London, Jakarta, Mongolia and Kolkata. Mitchell exited via trade sale to US engineering giant HDR Inc.

Mitchell seeded Millennium Coal via drill-for-equity, backing the development of a metallurgical coal mine in Queensland's Bowen Basin. Mitchell exited via takeover by Excel Coal. The mine was subsequently acquired and developed by Peabody Energy.

Co-founded by Mitchell Group to develop Papua New Guinea's first diversified mineral development business. Mitchell exited via private share sale prior to Mayur's ASX listing in 2018.

A significant investment made in 2008 backing Ambre's coal port and export infrastructure strategy in the United States. Mitchell sold to Resource Capital Funds in 2014.

A founding investment and majority-owned business, Remote Energy designs and deploys high-performance hybrid power and energy systems for remote and off-grid operations. Solutions include distributed microgrids, hybrid power systems, grid-scale battery energy storage and telecom power. Remote Energy serves the mining, resources and infrastructure sectors across Australia.

A founding shareholder investment. CEFAM is a joint venture focused on the delivery and operation of integrated clean energy solutions for waste gas streams — preventing flaring and venting through LNG, CNG and virtual pipeline solutions. Currently developing its first Queensland virtual pipeline with the deployment of a 70 tonne per day LNG facility.

A majority-owned Mitchell Group business specialising in anti-idle and emissions reduction technology for mining operations. Remote Energy Holdings designs and manufactures highly efficient solutions that reduce diesel consumption and emissions for mining fleets operating in harsh environments. Products are distributed through Sotreq CAT, Westrac CAT and Sime Darby Industrial.

Co-founded by Nathan Mitchell in 2009, Tlou Energy is Southern Africa's most advanced coal bed methane natural gas exploration company, with its flagship Lesedi Gas Project in Botswana. Nathan served as Executive Chairman from founding through to the company's listings on the ASX, AIM and BSE. Tlou is now supplying gas to digital infrastructure operators on site.

Petro Australis is developing a conventional oil and gas asset in Cuba. Mitchell invested in the company's 2024 private equity round.

Verso Energy Pty Ltd is a Mitchell Group venture combining cutting-edge US biotechnology with the Group's deep unconventional gas and subsurface expertise to pioneer a new approach to natural gas production from coal. The company is focused on unconventional gas development using subsurface coal conversion technology — a process capable of producing natural gas from coal at up to 10 times the yield of traditional coal seam gas (CSG), without hydraulic fracturing, aquifer dewatering, or groundwater contamination.

Co-founded by the Mitchell family in 2002, Sunshine Gas was built through years of exploration and production drilling on its Queensland tenements before listing on the ASX. Mitchell exited via takeover by Queensland Gas Company.

Co-founded by Mitchell Group to displace high-cost diesel with LNG and CNG distribution for locations off the existing gas and electricity network. Sub161 completed construction of the largest single-customer CNG facility in the world in Port Hedland in 2014, capable of displacing over 220,000 litres of diesel per day. Mitchell exited via acquisition by Clean Energy Fuels Australia in 2018.

A Brisbane-based coal seam gas producer with reserves in Queensland's Bowen Basin. Nathan Mitchell joined the board in 2008 and assisted in building WestSide into the country's leading junior gas producer. Mitchell exited via off-market share sale to Landbridge Energy Australia in 2014.

A Brisbane-based energy retailer servicing small business customers across five Australian states. Mitchell Group seeded QEnergy in its initial development, backing management through early growth to over 17,500 customers. Mitchell exited via takeover by B-Green Australia in 2019.

An investment backing Carbon Energy's proprietary underground coal gasification technology in Queensland. Mitchell invested via drill-for-equity.

An early investment in Redflow's zinc-bromine flow battery technology, made in 2011 prior to the company's commercial scale-up. Mitchell exited prior to Redflow's ASX listing.

An Australian battery materials technology company that developed and patented processes for the cost-effective manufacture of high-purity nano-scale cathode materials for lithium-ion batteries. Mitchell Group seeded VSPC in 2012. Mitchell exited via takeover by Lithium Australia (ASX:LIT) in 2018.

Anthropic is an AI safety company and developer of the Claude family of large language models — among the most capable and widely used AI systems in the world. Mitchell Group participated in Anthropic's 2025 Series G private equity round, valuing the company at $30 billion.

Sharon AI designs, builds and operates NeoCloud infrastructure for AI GPU compute, high performance computing and cloud storage. Operating co-location facilities in Sydney, Melbourne and the United States, Sharon AI serves the rapidly growing demand for sovereign and enterprise AI compute capacity. Mitchell Group was a foundational investor in Sharon AI through its roll-in holding in DSS, and has subsequently participated in debt and equity rounds.

Firmus is a data centre company building next-generation compute infrastructure in Australia. Mitchell Group participated in Firmus' 2025 private equity round. Firmus is targeting a public listing in 2026.

Mitchell Group has co-invested in NOJA Power alongside the Ellerston Industrial Fund. A private, Brisbane-based manufacturer, NOJA Power is a world leader in medium voltage electrical equipment — with more than 99,000 OSM Series automatic circuit reclosers installed across 106 countries worldwide. NOJA Power has revolutionised electrical distribution network protection and control. The company's OSM Series automatic circuit reclosers enable grid operators to isolate faults rapidly, restore power faster, and manage the growing complexity of modern distributed energy networks. With installations spanning 106 countries, NOJA Power's technology has become embedded in the critical infrastructure of utilities, municipalities and energy networks globally. The investment thesis is straightforward: electrification is accelerating. Transport, industry and residential energy demand are all converging on the grid simultaneously, and governments worldwide are committing to the most significant grid infrastructure expansion in decades. NOJA Power's medium voltage switchgear sits at the centre of every network upgrade, and the company's technological leadership — combined with its established global distribution — positions it to capture a meaningful share of this multi-decade build-out. Mitchell Group's co-investment alongside Ellerston reflects conviction in NOJA Power's technology, global reach, and the structural tailwinds driving demand for smarter, more resilient grid infrastructure.

LSP is a digital technology company delivering patient care and connectivity services across healthcare, accommodation and remote facilities. LSP's platform integrates with facility management systems to deliver Wi-Fi connectivity and on-demand services without the need for recabling or significant capital expenditure. Clients include hospitals, aged care facilities, hotels and remote mining accommodation across Asia Pacific, Europe, the Middle East and North America.

A wholly owned Mitchell Group business operating premium yacht charter experiences in the Great Barrier Reef Marine Park.

A wholly owned Mitchell Group cattle property and guest accommodation in northern New South Wales.

An early investment supporting Mawson's development as a digital infrastructure provider across cryptocurrency mining and digital asset management. Mitchell Group backed Mawson through to its NASDAQ listing in 2021.

Superloop is an Australian digital infrastructure company building and operating fibre networks, subsea cables and connectivity infrastructure across Australia and the Asia Pacific region. Mitchell Group invested in Superloop at its IPO in 2015, backing the rollout of metro fibre and network infrastructure as demand for data and connectivity accelerated across the region.

Mitchell Ports is a port infrastructure investment within the Mitchell Group portfolio.

A diagnostic imaging practice co-founded by Mitchell Group in Brisbane's CBD, offering a full suite of imaging services including MRI, CT, ultrasound and nuclear medicine. Mitchell Group supported CitiScan's growth to one of Queensland's leading imaging practices, including the opening of a second location at Acacia Ridge. Mitchell exited via sale to a private equity-backed radiology group in 2020.

An aircraft charter and logistics consultancy serving the resources industry domestically and internationally. Mitchell Group provided seed investment via its holding in Salva Resources. Mitchell exited via sale to Flight Centre (ASX:FLT).