Is DPM Metals / DPM Halal?
DPM Metals Inc. (TSX: DPM) — formerly Dundee Precious Metals, renamed effective September 2025 — is a Canadian gold miner with operations in Bulgaria (Chelopech and Ada Tepe), Bosnia and Herzegovina (Vareš), Serbia and Ecuador. On our primary-filing math the business has no verified haram lines, total debt of US$0 is 0.00% of the ~C$13.89 billion market cap, and interest income is just ~1.34% of revenue. Conditional PASS* — Musaffa classifies DPM.TO as not halal as of September 2026, so read the third-party section before deciding.
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 — passes
DPM Metals is a Canadian-based international gold mining company with operations and projects in Bulgaria, Bosnia and Herzegovina, Serbia and Ecuador — the Chelopech and Ada Tepe gold mines (Bulgaria) and the Vareš mine (Bosnia and Herzegovina, commercial production from August 2026). No verified involvement in weapons/defence, gambling, alcohol, tobacco, pork or adult entertainment was found. Gate one: passes.
Gate two: the ratios — pass comfortably
The debt gate passes. As at June 30, 2026 (in US dollars): the company had no debt — nothing drawn on its US$400 million revolving credit facility — and held US$761.2 million in cash. Market cap is about C$13.89 billion (C$63.34 close on September 25, 2026 × 219,368,650 shares) — putting debt at 0.00% of market cap, far below the ~33% ceiling. The income gate passes. The Q2 2026 release's reconciliation reports interest income of US$4.857 million against revenue of US$361.543 million — ~1.34% of revenue, below the ~5% ceiling. (The interest comes from the company's large cash balance.) Gate two: passes.
What other screeners say — a disagreement
Musaffa rates DPM.TO not halal as of September 2026 under its AAOIFI methodology, but its page does not disclose which threshold failed. On the primary-filing math above, debt is 0.00% and interest income is ~1.34% — both below the ceilings — so the basis of the disagreement is unclear. Zoya's public DPM page returns a 404 (no rating), and ShariaPortfolio publishes no public per-stock reports. Because a respected third-party screener disagrees, this screener is marked conditional: review both screens and consult a qualified scholar before deciding.
The bottom line
This screener gives DPM Metals Inc. (TSX: DPM) a conditional PASS. Gold mining has no verified haram lines, debt is 0.00% of market cap, and interest income is ~1.34% of revenue — both below the ceilings. But Musaffa disagrees, so this is a snapshot dated September 29, 2026 to weigh alongside independent screens, re-checked quarterly after earnings.
The purification angle: even on a PASS, interest income of ~1.34% of revenue means a small non-compliant share — run the purification calculator to estimate it on any dividends or gains.
Frequently asked questions
Is DPM Metals stock halal?
This screener gives DPM Metals Inc. (TSX: DPM), formerly Dundee Precious Metals, a conditional PASS. On the primary-filing math the gold miner (Chelopech and Ada Tepe in Bulgaria, Vareš in Bosnia and Herzegovina) has no verified haram business lines, total debt of US$0 is 0.00% of the ~C$13.89 billion market cap, and interest income of US$4.857 million is about 1.34% of quarterly revenue. However, Musaffa classifies DPM.TO as not halal as of September 2026 — so treat this screener as conditional and read the third-party section before deciding.
What are DPM Metals' debt and market-cap figures?
As at June 30, 2026 (Q2 2026): the company had no debt — nothing drawn on its US$400 million revolving credit facility — and held US$761.2 million in cash. Market cap is about C$13.89 billion (C$63.34 close on September 25, 2026 × 219,368,650 shares). The debt-to-market-cap ratio is 0.00% — far below the ~33% ceiling.
Does DPM Metals earn interest income?
Yes, and it is explicitly disclosed. The Q2 2026 release's reconciliation reports interest income of US$4.857 million against revenue of US$361.543 million — about 1.34% of revenue, below the ~5% ceiling. The interest comes from the company's large cash balance (US$761.2 million).
Why does Musaffa say DPM Metals is not halal?
Musaffa's public DPM.TO page classifies DPM Metals as not halal as of September 2026 under its AAOIFI methodology, but its page does not disclose which threshold failed. On the primary-filing math used in this screener, debt is 0.00% of market cap and interest income is ~1.34% of revenue — both below the ceilings — so the disagreement's basis is unclear. Because a respected third-party screener disagrees, this screener is marked conditional: review both screens and consult a qualified scholar before deciding.
What could change DPM Metals' halal screener?
Drawing on the US$400 million credit facility for a major project could push debt-to-market-cap toward the ~33% ceiling — it sits at 0.00% today. Interest income rising above roughly 5% of revenue would also change the screen, as would a change in Musaffa's rating. This screener is a snapshot dated September 29, 2026 and is re-checked quarterly after earnings.