The Lunar Volatile and Mineralogy Mapping Orbiter (VMMO) is an ESA 16U CubeSat mission designed to investigate the distribution of water ice and ilmenite near the lunar south pole, supporting future in-situ resource utilisation for sustained lunar exploration. Its primary payload, the Lunar Volatile and Mineralogy Mapper (LVMM), is a multi-wavelength chemical lidar operating at 532 nm, 1064 nm, and 1560 nm in both passive and active modes, enabling observations under varying illumination conditions. Additional payloads include the CLAIRE radiation detector and an experimental GNSS receiver for testing lunar navigation using Galileo spillover and second-lobe signals, as well as future Moonlight constellation signals. The mission comprises three phases: transfer, operational, and disposal. The transfer phase has two possible options: release from a translunar injection trajectory followed by a lunar flyby and low-thrust capture, or a many-revolution low-thrust spiral from low lunar orbit. The spacecraft uses two electrical propulsion thrusters to reach a 41 × 200 km polar frozen orbit with argument of periapsis of 270°, selected to maximise low-altitude coverage of permanently shadowed regions in Faustini, Cabeus, and Shackleton craters. Simulations show satisfactory surface visibility over a two-year science phase. Because of the limited ΔV, a semi-controlled lunar impact, compliant with ESA debris mitigation requirements, was selected as the end-of-life disposal strategy.