Is Endeavour Mining (EDV) stock Halal?

Endeavour Mining is a prominent gold mining company engaged in the exploration, development, and production of gold in West Africa. As a key player in the mining industry, its operations span several countries including Côte d'Ivoire, Burkina Faso, and Senegal, where it manages a portfolio of high-quality, low-cost mines. Endeavour's primary function is to extract and process gold, focusing on sustainable and responsible mining practices. Before any of that matters to a Muslim investor, one question comes first: is Endeavour Mining stock Halal?

Is Endeavour Mining Shariah compliant?

For a resources company like Endeavour Mining, AAOIFI Shariah Standard No. 21 has little quarrel with the product; the scrutiny falls on the financing. Heavy machinery and long project cycles are usually funded with debt, and the standard tolerates interest bearing borrowing only below 30% of market capitalisation.

Does Endeavour Mining pass the business activity test?

The activity screen is only part of the picture this month: Endeavour Mining currently fails the non-permissible income screen, so the overall verdict is not compliant regardless of the business itself. The activity itself, extracting and selling resources, raises no Shariah objection; the scrutiny belongs to the financing.

Is Endeavour Mining's income Halal?

No. Endeavour Mining's income from impermissible sources currently exceeds AAOIFI's 5% revenue ceiling, which makes the stock non-compliant on this screen regardless of the others. The screen is reassessed monthly, so the status can change when new financial statements arrive.

Does Endeavour Mining meet AAOIFI's debt and investment ratio requirements?

Yes. Both caps hold this month: interest bearing investments and interest bearing debt each stay below 30% of market capitalisation. Because the caps move with the share price, our Shariah Supervisory Board has EDV re-screened every month, and the result above always shows the latest verdict.

Tabadulat is an ADGM regulated brokerage whose license covers Shari'a Compliant Regulated Activities, as the FSRA permission names them. New to the terminology? Gharar and Maysir, Sukuk, Zakat and purification are all explained in plain English.

New to the four screens? Read AAOIFI Standards Explained: What Makes a Stock Halal?