NEM
Newmont Corporation
Is NEM Halal?
Largest pure-play gold-mining company in the world — permissible commodity-extraction business with strong Sharia-compliance profile.
What You Should Know
Newmont is a globally diversified gold and metals miner, with copper, silver, lead and zinc by-products. Gold and physical-metal extraction is generally permissible at the activity level, while environmental stewardship and downstream use remain qualitative questions. The March 31, 2026 Form 10-Q gives total assets of $57,670 million, debt of $5,301 million, cash of $8,775 million, receivables of $1,675 million and quarterly revenue of $7,307 million. On the examined asset-based methods, debt/assets is 9.19%, identifiable liquidity/assets is 15.22%, receivables plus cash/assets is 18.11% and disclosed investment interest/revenue is 1.15%; these financial ratios pass, while prohibited-revenue allocation and purification remain incomplete.
⚠️ Concerns
- •Some scholars apply additional scrutiny to commodity-extraction businesses on environmental-stewardship (khalifa) grounds
- •By-product and jurisdiction mix should be reviewed as disclosures change
- •Disclosed investment interest income is $84 million for the quarter; consult a qualified scholar on purification
- •Gold hedging and streaming instruments may receive stricter treatment from some advisory boards
- •The filing does not provide a universal prohibited-revenue numerator
Current quantitative Sharia screen
Based on 10-Q figures for the period ended 2026-03-31; calculated 2026-07-15.
5,301 / 57,670
8,775 / 57,670
10,450 / 57,670
84 / 7,307
- Financial
- Pass
- Overall
- Incomplete
Debt/assets is 9.19%, liquidity/assets is 15.22%, receivables-plus-cash/assets is 18.11% and disclosed interest income is 1.15%; examined financial ratios pass, but activity allocation remains incomplete.
- Financial
- Pass
- Overall
- Incomplete
Debt/assets is 9.19%, liquidity/assets is 15.22% and receivables-plus-cash/assets is 18.11%, below the examined MSCI limits; activity allocation remains incomplete.
- Financial
- Pass
- Overall
- Incomplete
Debt/assets is 9.19% and liquidity/assets is 15.22%, 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
Newmont mines and sells gold and other metals. Physical commodity extraction and sale is generally permissible, while by-product mix, environmental practice and downstream use require qualitative review.
Limitation: The filing does not provide a universal prohibited-revenue numerator for every product, jurisdiction or downstream use.
Purification
Newmont discloses $84 million of investment interest income, but no scholar-approved purification percentage is asserted for the operating business.
Inputs, assumptions and primary sources
- Amounts are USD millions from Newmont's March 31, 2026 Form 10-Q.
- Debt uses reported debt carrying amounts; no untagged operating-lease balance was added to avoid double counting.
- Receivables combine $1,137 million net current accounts receivable and $538 million other receivables.
- Quarterly revenue is $7,307 million and disclosed investment interest income is $84 million, or 1.15% of revenue.
- Gold, copper, silver, lead and zinc extraction is retained as generally permissible, while environmental, labor and jurisdiction-specific issues require qualitative 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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