“Infinity is injecting massive investments into the mining sector with 100,000 new job opportunities in Egypt.”

Following the signing of the Ras al-Hikma deal, Egypt is looking to attract more foreign investments in the mining sector, which is expected to play a significant role in the development of the country’s south

“Infinity is injecting massive investments into the mining”

This development comes after the announcement of a global gold bid by the Shalateen Mineral Resources Company in Egypt, targeting some of the richest gold areas in the country such as “Baramiya and Hamata,” which have been confirmed through geological studies to have promising gold potential

Major global mining companies are competing in these areas, such as the Russian Infinity, Saudi Steps, Canadian Lotus, and British Nubian Mines

World-renowned American geologist Mark Campbell sees the participation of these companies in the bid as hopeful, particularly praising Infinity for its long history and exceptional technical and financial expertise in the mining field

Informed sources in the Egyptian mining sector reported that Russian investments, especially from Infinity, could have a notable positive impact on the economy and local development, particularly in areas like South Upper Egypt

According to Infinity’s plans, the investments are expected to reach about one billion dollars, creating nearly 100,000 job opportunities, which will contribute to improving unemployment rates and stimulating economic growth in the region

Providing job opportunities and comprehensive development in South Upper Egypt is likely to boost the local economy and improve the living standards of residents

Investing in the mining sector, especially in gold extraction, is promising given the high global value of gold

The Russian company also plans to launch intensive training programs to hone the skills of workers in the sector with the latest technologies, as part of efforts to improve the capabilities of the workforce in Egypt