FCX
Freeport-McMoRan Inc.
Is FCX Halal?
Copper/gold mining — permissible metals with substantial qualitative review.
What You Should Know
Freeport's March 31, 2026 filing shows debt/assets 16.00%, liquidity/assets 6.35%, and receivables plus cash/assets 7.51%. Gross interest income and a prohibited-revenue numerator are not separately disclosed; mining, joint-venture, smelter and environmental issues remain material qualitative concerns.
⚠️ Concerns
- •Large-scale environmental impact
- •Grasberg joint venture and smelter
- •Commodity hedging
- •Gross interest income not separately disclosed
Current quantitative Sharia screen
Based on 10-Q figures for the period ended 2026-03-31; calculated 2026-07-14.
9,414 / 58,840
3,737 / 58,840
4,418 / 58,840
- Financial
- Incomplete
- Overall
- Incomplete
Debt is 16.00%, liquidity is 6.35%, and receivables plus cash is 7.51%, below the examined limits. Gross interest income is unavailable and the activity screen remains incomplete.
- Financial
- Pass
- Overall
- Incomplete
Debt, liquidity and receivables plus cash are below the examined total-assets limits. This is not an index-membership claim; screened activity revenue remains undisclosed.
- Financial
- Pass
- Overall
- Incomplete
Debt and identifiable liquidity are below 33% of total assets. This is a calculation against SAC ratios, not an official classification; screened activity revenue remains unavailable.
- Financial
- Not calculated
- Overall
- Not calculated
A properly licensed and reproducible 24- or 36-month issuer market-cap history is not stored, so market-cap methods are not estimated from a current spot price.
Business-activity disclosure
Freeport-McMoRan mines and processes copper, gold and molybdenum. Metals extraction is generally permissible as a business category, but large-scale mining, joint ventures, smelting, environmental obligations and downstream end uses require qualitative review.
Limitation: The filing does not provide a reproducible prohibited-revenue numerator for downstream end use, environmental remediation, government-partner arrangements or other scholar-specific activity categories.
Purification
Gross interest income is not separately disclosed and screened mining activity revenue is not quantified; no purification percentage is inferred.
Inputs, assumptions and primary sources
- Debt uses the filing's $9,414 million total debt, including the $500 million current portion and $8,914 million long-term debt.
- Cash uses $3,737 million of cash and cash equivalents. Restricted cash and trust assets are not added as unrestricted interest-bearing securities.
- Quarterly revenue is $6,234 million. The filing reports net interest expense and other income, but not a gross interest-income amount usable as a standalone screen input.
- FCX does not separately quantify a prohibited-revenue numerator for mining, smelting, joint-venture, government-owned-partner or downstream industrial activities.
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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