In a small saucepan, warm the chicken broth over low heat and add the saffron threads to steep and release their golden color.
Heat the olive oil in a paella pan or wide skillet over medium heat. Add the diced chorizo and cook until the fat renders and the edges are slightly crisp.
Add the diced onion and red bell pepper to the pan, sautéing for 3-4 minutes until softened. Stir in the minced garlic and cook for another 30 seconds until fragrant.
Stir in the tomato puree, smoked paprika, sea salt, and black pepper, cooking for 1-2 minutes to create a thick sofrito base.
Add the Bomba rice to the pan and stir well to coat every grain with the oil and spices. Pour in the saffron-infused broth and stir once to distribute the rice evenly.
Reduce the heat to medium-low and simmer without stirring for about 12-15 minutes, allowing the rice to absorb the liquid and form a 'socarrat' (crust) on the bottom.
Nestle the shrimp and mussels into the rice. Cover the pan with a lid or foil and cook for an additional 5-7 minutes until the shrimp are pink and the mussels have opened.
Remove from heat and let the paella rest for 5 minutes. Garnish with fresh chopped parsley and serve with lemon wedges for a bright, citrus finish.