AEM
Agnico Eagle Mines Limited
Is AEM Halal?
Gold mining explicitly halal — senior miner.
What You Should Know
Gold mining operations in stable jurisdictions. Its March 31, 2026 Q1 filing reports $35,155.701 million of assets, $319.219 million of conservative debt and leases, $3,111.869 million of cash and $4,099.589 million of quarterly mining revenue. Debt/assets is 0.91%, liquidity/assets is 8.85% and receivables-plus-cash/assets is 8.85%; the income and activity numerators remain incomplete. Gold extraction is explicitly permissible in Islam.
⚠️ Concerns
- •Gold price volatility
- •Mining and reclamation exposure
Current quantitative Sharia screen
Based on 6-K figures for the period ended 2026-03-31; calculated 2026-07-15.
319.219 / 35,155.701
3,111.869 / 35,155.701
3,111.869 / 35,155.701
- Financial
- Incomplete
- Overall
- Incomplete
Debt/assets is 0.91%, liquidity/assets is 8.85% and receivables-plus-cash/assets is 8.85%; examined ratios pass, but the income and activity numerators remain incomplete.
- Financial
- Pass
- Overall
- Incomplete
Debt, liquidity and receivables-plus-cash are below the examined total-assets limits; activity allocation remains incomplete. This is not an index-membership claim.
- Financial
- Pass
- Overall
- Incomplete
Debt/assets and identifiable conventional cash are below the examined Malaysia limits; activity allocation remains incomplete.
- Financial
- Not calculated
- Overall
- Incomplete
A properly licensed and reproducible historical market-cap series is not stored; filing-based asset ratios remain documented.
Business-activity disclosure
Agnico Eagle mines gold and other metals. Precious-metals extraction is generally permissible in the retained qualitative analysis, while jurisdiction, environmental obligations and non-gold by-product allocation require review.
Limitation: The filing does not provide a universal prohibited-revenue numerator across metals, jurisdictions and royalty arrangements.
Purification
Agnico Eagle does not separately disclose a scholar-approved non-compliant income numerator or purification percentage.
Inputs, assumptions and primary sources
- Amounts are USD millions from Agnico Eagle's March 31, 2026 Q1 financial statements filed with its Form 6-K.
- Conservative debt includes $196.548 million long-term debt and $122.671 million of current and noncurrent lease obligations.
- Cash and cash equivalents are $3,111.869 million. The filing presents investments but does not identify an interest-bearing securities numerator; accounts receivable is not separately presented.
- Quarterly mining revenue is $4,099.589 million. The filing does not separately disclose a scholar-universal non-compliant income numerator.
- Gold mining is retained as generally permissible qualitative activity, while jurisdiction, environmental, royalty and product-allocation questions remain subject to review.
This is a reproducible financial screen, not a fatwa. A failed total-assets screen can coexist with a pass under a market-cap methodology. ZakatInvest keeps the qualitative assessment separate so numerical thresholds do not erase material context.
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