Heat the extra virgin olive oil in a paella pan or wide skillet over medium heat.
Add the diced yellow onion and red bell pepper, sautéing until the vegetables are softened and fragrant.
Stir in the minced garlic, smoked paprika, and tomato puree, cooking for 2 minutes to develop the base flavors.
Add the dry Bomba rice to the pan and stir for 1 minute to ensure every grain is lightly toasted and coated.
Pour in the seafood broth and add the saffron threads, sea salt, and black pepper, stirring once to distribute.
Bring to a gentle simmer and cook undisturbed for 10 minutes until the rice has absorbed some of the liquid.
Arrange the shrimp and scrubbed mussels on top of the rice, pressing them down slightly into the liquid.
Cover the pan and continue to cook for 5-8 minutes until the shrimp are pink and the mussels have opened.
Remove from heat, garnish with freshly chopped parsley, and serve immediately with a bright lemon wedge.