Arabian American Development Company
Arabian American Development Company was organized as a Delaware corporation in 1967. The company’s principal business activities include developing mineral properties in Saudia Arabia and the United States and manufacturing various petrochemical products.
ARSD owns the rights to a significant undeveloped mine in Saudi Arabia. The Company has formed a joint stock corporation with Saudi investors. ARSD will contribute the mine rights to this corporation, and investors will contribute $60 million in cash to fund the construction of a $120 million processing facility to make the mine operational. The joint stock corporation will seek financing in the form of a credit line from a bank for the remaining amount. The construction of the facility is expected to take two years.
ARSD also owns approximately 55% of the capital stock of a Nevada mining company, Pioche-Ely Valley Mines, Inc ("Pioche"). Pioche owns a 300-ton a day mill which is not currently operable. It also owns 48 patented and 5 unpatented claims totaling approximately 1,500 acres located in the Pioche Mining District, Lincoln County, Nevada. A significant expenditure would be required in order to put the mill into continuous operation if commercial mining is to be conducted on the property. ARSD believes that the real estate value of Pioche is greater than the metal value.
Contact Details
Office Address
Arabian American Development Company
10830 N. Central Expwy.
Ste. 175
Dallas, TX, USA 75231
Phone: 214-692-7872
Fax: 214-692-7874
Executives
President, CEO, and Director
Nicholas N. Carter
Secretary and Treasurer; Controller, Petrochemical Companies
Connie J. Cook