VOL. XXXVI

NO. 32

10-MAY-1993

SAUDI ARABIA

Arabian Shield Awarded Gold Mining Concession

The Saudi Government has granted the Texas-based Arabian Shield DevelopmentCompany a 30-year concession to exploit the gold deposits at al-Masani', insouthern Saudi Arabia. Under the concession agreement, Arabian Shield isrequired to set up a Saudi operating company with Saudi Arabia's Petromin assoon as the mining project proves to be commercial, with Arabian Shield holding50% of the new company, Petromin not...