Is Aris Mining (ARIS) halal?
Aris Mining (TSX: ARIS), the gold producer operating the Segovia and Marmato mines in Colombia, gets a PASS: total debt of US$505.8M is about 13.8% of its ~US$3.66B market cap vs the ~33% ceiling, and finance income is ~1.26% of Q2 2026 revenue.
The two-gate Shariah screen
Every screener on this site runs the same two gates: first, the business must be halal (no conventional insurance, banking, alcohol, gambling, weapons manufacturing, and the like); second, the financial ratios must clear (debt under roughly 33% of market cap, non-compliant income under roughly 5%).
Gate one: the business — PASSED
Aris Mining Corporation (TSX: ARIS; NYSE American: ARMN) is a Canadian gold producer focused on South America. It operates two underground gold mines in Colombia - Segovia in Antioquia and Marmato in Caldas - which together produced about 256,500 ounces in 2025, with 2026 guidance of 300,000 to 350,000 ounces. Its growth pipeline includes the Marmato CIP plant expansion (first gold expected Q4 2026), the Soto Norte gold project (pre-feasibility study completed September 2025; copper as a by-product), and the Toroparu gold project in Guyana. No haram business segments are disclosed - gold and copper mining only (company corporate overview and Q2 2026 MD&A in its SEC 6-K). None of the standard AAOIFI prohibited business activities (conventional banking and insurance, alcohol, gambling, weapons, pork, tobacco, adult entertainment) are part of Aris Mining operations, so the business-activity gate passes. Facts only, no fatwa.
Gate two: the ratios — PASSED
The ratios gate passes on all three checks. Debt: the Q2 2026 SEC 6-K interim balance sheet (June 30, 2026) shows long-term debt of US$447.960M, current portion of long-term debt of US$51.025M, and lease obligations of US$6.849M, for total interest-bearing debt of US$505.834M. Against a market capitalization of about US$3,663.9M (206,417,693 shares outstanding at US$17.75, September 29, 2026 market data), that is roughly 13.8% debt-to-market-cap - under the ~33% ceiling. Cash and equivalents of US$425.552M at June 30, 2026 are about 11.6% of market cap. Income: the company reports a single IFRS Finance income line (no separately disclosed interest income line) of US$4.166M on revenue of US$330.227M in Q2 2026 - about 1.26%, under the ~5% ceiling. H1 2026 was US$7.549M on US$702.706M (about 1.07%), and FY2025 was US$12.6M on US$927.664M (about 1.36%). All figures recomputed from the cited sources; Aris Mining reports in US dollars.
What other screeners say
ShariaPortfolio independently covers this company under its NYSE American ticker ARMN and states that Aris Mining Corp is Shariah Compliant, passing 3 of 5 Shariah standards it screens against. Note their separate ARIS page is a different company (Aris Water Solutions Inc), not Aris Mining - do not confuse the two. No public Zoya coverage and no public Musaffa coverage were found for Aris Mining as of September 2026.
The bottom line
Aris Mining (ARIS) is a PASS: gold mining in Colombia clears the activity gate, total debt of US$505.8M at June 30, 2026 is about 13.8% of market cap - under the ~33% ceiling - and finance income is about 1.26% of Q2 2026 revenue (about 1.36% for FY2025), under the ~5% ceiling. ShariaPortfolio independently rates Aris Mining Shariah Compliant under its NYSE American ticker ARMN; no public Zoya or Musaffa coverage was found. As with every screener here, this is a rules-based screening of published figures, not a religious ruling - consult a qualified scholar for personal guidance.
Sources
- Aris Mining Q2 2026 SEC 6-K interim financial statements (Note 10, debt; income statement, finance income)
- Aris Mining FY2025 income statement, revenue US$927,664k (barchart, SEC-filings derived)
- ShariaPortfolio screener — Aris Mining Corp (ARMN) rated Shariah Compliant
- Aris Mining corporate overview (aris-mining.com)
Frequently asked questions
Is Aris Mining stock halal?
Based on this screener AAOIFI-style checks, Aris Mining passes: its Colombian gold mining business clears the activity gate, total debt of US$505.8M is about 13.8% of market cap, and finance income is about 1.26% of Q2 2026 revenue. This is a screening result, not investment advice or a religious ruling.
How much debt does Aris Mining have relative to its market value?
About 13.8%: US$505.834M of total interest-bearing debt (long-term debt US$447.960M plus current portion US$51.025M plus lease obligations US$6.849M) at June 30, 2026, divided by a market cap of about US$3.664B (206,417,693 shares at US$17.75, September 29, 2026) - under the ~33% ceiling this screener uses.
Does Aris Mining earn interest income?
A small amount: the company reports one IFRS Finance income line (no separate interest income line is disclosed), at US$4.166M on revenue of US$330.227M in Q2 2026 - about 1.26%, under the ~5% ceiling. For H1 2026 it was about 1.07%, and for FY2025 about 1.36%.
What does Aris Mining do?
Aris Mining Corporation (TSX: ARIS; NYSE American: ARMN) is a Canadian gold producer operating two underground gold mines in Colombia - Segovia and Marmato - with the Soto Norte and Toroparu projects in its growth pipeline.
Do Zoya, Musaffa, or ShariaPortfolio rate Aris Mining?
ShariaPortfolio covers it under its NYSE American ticker ARMN and states Aris Mining Corp is Shariah Compliant, passing 3 of 5 Shariah standards it screens against. No public Zoya coverage and no public Musaffa coverage were found as of September 2026.