Is Barrick Mining / ABX Halal?
Screener: Yes — Barrick passes Shariah screening as of September 2026. ~6.5% debt-to-market-cap with a net-cash balance sheet, and gold/copper mining is a permissible business. (Barrick renamed itself from Barrick Gold to Barrick Mining; it trades as ABX on the TSX and B on the NYSE.)
Screen 1: Business activity — pass
Barrick is a gold and copper producer with operations across North America, South America, Africa, and the Middle East. In Q2 2026 it produced 796,000 ounces of gold (+11% quarter-over-quarter, 3% above guidance) and 56,000 tonnes of copper, generating US$5.29B of revenue (+44% year-over-year). Metals mining is not a prohibited industry under any major methodology (AAOIFI, Dow Jones Islamic Market, FTSE, MSCI Islamic). Note that Barrick's planned IPO of its North American gold assets by year-end 2026 will change the shape of the company — screens should be rerun after the transaction.
Screen 2: Financial ratios — pass
- Gross interest-bearing debt: US$4.682B of total long-term debt at June 30, 2026 (≈C$6.37B) — with no meaningful debt due until 2033.
- Market cap: ≈ C$98.44B (TSX: ABX at ~C$58.18).
- Debt-to-market-cap: (6.37 ÷ 98.44) × 100 ≈ 6.5% — well under the 33% ceiling.
- Cash: US$7.13B reported at March 31, 2026 — exceeding total debt (a net-cash position of US$2.4B at Q1-end).
- Interest income: no separately verifiable Q2 2026 figure was located in public sources. The 5% ceiling on US$5.29B of Q2 revenue would require ≈US$265M of interest income in a single quarter — roughly a 15% annualized yield on the US$7.13B cash reported at Q1-end. Nothing in the company's filings or reporting suggests anything near that level; we state the data gap plainly so you can verify it yourself.
Screen 3: Purification
Barrick declared a Q2 2026 dividend of US$0.175 per share and repurchased US$1.2B of its own shares during the quarter. Under standard screening treatment, dividends from a compliant company are halal income subject to purification of any small non-compliant income earned — our purification calculator can help estimate the charitable amount. Nothing on this site is a fatwa.
What could change the screener
- The North American assets IPO (targeted by year-end 2026) will change both the debt and market cap figures — rerun the screen afterward.
- A gold-price collapse would shrink the market cap denominator; the ~6.5% ratio has wide headroom, but screens are quarterly by design.
- Large debt-funded acquisitions (Barrick's US$4B agreement with Newmont was structured with a US$1.95B cash top-up to Barrick, not new borrowing).
Halal alternatives and peers
For other screened Canadian large-caps, see Canadian Natural Resources (PASS, energy) and Suncor (PASS, energy), or the full screener database. Shariah-compliant ETF options (WSHR, SPUS) are covered in our complete guide.
FAQ
Is Barrick halal to invest in?
As of September 2026: yes, under the AAOIFI-style screening we apply. Gold and copper mining is a permissible business, debt-to-market-cap is ≈6.5% (under the 33% ceiling), and the balance sheet is in net cash. This is a screening result, not a religious ruling.
How was the 6.5% debt ratio calculated?
US$4.682B of total long-term debt at June 30, 2026 (≈C$6.37B) against a market cap of ≈C$98.44B (TSX: ABX at ~C$58) — (6.37 ÷ 98.44) × 100 ≈ 6.5%, well under the 33% ceiling. Cash of US$7.13B reported at March 31, 2026 exceeds total debt — a net-cash balance sheet.
Barrick sits on billions in cash — is the interest income a problem?
No separately verifiable Q2 2026 interest-income figure was located in public sources. The 5% ceiling on US$5.29B of Q2 revenue would require ≈US$265M of interest income in a single quarter — roughly a 15% annualized yield on the US$7.13B cash reported at Q1-end. Nothing in the company's filings or reporting suggests anything near that level; we flag the data gap so you can verify it yourself.
Are Barrick's dividends halal?
Barrick declared a Q2 2026 dividend of US$0.175 per share and repurchased US$1.2B of shares in the quarter. Under standard screening treatment, dividends from a compliant company are halal income subject to purification of any non-compliant income earned — our purification calculator can help estimate the charitable amount. Nothing on this site is a fatwa.
What do Zoya, Musaffa, and ShariaPortfolio say?
No verified current third-party verdict on Barrick was found in public sources during our September 2026 research — not on Zoya, Musaffa, or ShariaPortfolio. Our PASS result is an independent application of the AAOIFI-style screen; consult a scholar or screener of your choice before investing.