Is Endeavour Mining (EDV) halal?
Endeavour Mining (TSX: EDV) gets a PASS: its business is West African gold mining with no prohibited activity, US$987.1M of debt is roughly 6.9% of its ~C$20.37B market cap (ceiling ~33%), and interest income of US$5.6M is roughly 0.2% of H1 2026 revenue (ceiling ~5%). The company reports net cash of US$254M.
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 — PASS
Endeavour Mining plc (TSX: EDV; LSE: EDV) describes itself as one of the world's senior gold producers and the largest in West Africa, with operating assets across Senegal, Côte d'Ivoire and Burkina Faso. Its five operating mines are Houndé and Mana in Burkina Faso, Ity and Lafigué in Côte d'Ivoire, and Sabodala-Massawa in Senegal, plus the Assafou and Kalana development projects and a portfolio of exploration assets across the Birimian Greenstone Belt. H1 2026 production was 564koz of gold at an all-in sustaining cost of US$1,871/oz. That is gold mining, full stop - there is no conventional banking or insurance, no alcohol, gambling, weapons, or other prohibited activity in the company's reported business. Facts only, no fatwa.
Gate two: the ratios — PASS
Both ratio gates pass. The debt gate: Endeavour reported total debt of US$987.1M at June 30, 2026 - the 2030 Senior Notes (US$491.0M), drawn revolving credit facilities (US$410.0M), the Lafigué term loan (US$89.3M), plus interest accruals of US$1.6M less US$4.8M of deferred financing costs - against cash and cash equivalents of US$1,252M, i.e. net cash of US$254M. At US$1 = C$1.414 (September 25, 2026), US$987.1M is about C$1.40B against a September 2026 market cap of roughly C$20.37B: roughly 6.9%, comfortably under the ~33% ceiling. Cash of about C$1.77B is roughly 8.7% of market cap. The income gate: the finance-costs note in the Q2 2026 interim financial statements breaks out interest income of US$5.6M for H1 2026 (against interest expense of US$32.0M, for net finance costs of US$35.1M). Against H1 2026 revenue of US$2,569.3M, that is roughly 0.2%, far under the ~5% ceiling. All figures are recomputed from the cited filings.
Shareholder returns
Context, not a gate: Endeavour returned a record US$301M to shareholders in H1 2026 - a US$230M dividend (US$0.95 per share) plus US$71M of share buybacks - and guides a minimum dividend of about US$1.0B over 2026-2028. Dividends and buybacks do not change the screening gates.
What other screeners say
No public Zoya, Musaffa or ShariaPortfolio coverage was found for Endeavour Mining (EDV) as of September 2026: web searches surfaced no public Zoya page for the EDV ticker, no Musaffa public page, and ShariaPortfolio publishes no public per-stock screening pages for it. The PASS recorded here rests on Endeavour's own disclosures.
The bottom line
Endeavour Mining (EDV) is a PASS. The business gate passes: the company is a West African gold producer (Houndé, Mana, Ity, Lafigué, Sabodala-Massawa) with no prohibited activity in its reported business. The debt gate passes: US$987.1M of total debt at June 30, 2026 (about C$1.40B at US$1 = C$1.414) is roughly 6.9% of the ~C$20.37B September 2026 market cap, against a ~33% ceiling, and the company reports net cash of US$254M. The income gate passes: interest income of US$5.6M for H1 2026 is roughly 0.2% of H1 2026 revenue of US$2,569.3M, far under the ~5% ceiling. No public Zoya, Musaffa or ShariaPortfolio rating was found for this ticker as of September 2026. 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
- Endeavour H1 2026 results (H1 revenue US$2,569.3M; net cash US$254M; cash US$1,252M; debt US$987M: current US$42M + non-current US$945M; 564koz production; West Africa operations)
- Endeavour Q2 2026 interim financial statements, Note 6 (total debt US$987.1M: 2030 Senior Notes US$491.0M, RCF US$410.0M, Lafigué term loan US$89.3M; finance-costs note: interest income US$5.6M, interest expense US$32.0M, net finance costs US$35.1M for H1 2026)
- Endeavour Mining market cap ~C$20.37B as of September 25, 2026 (TSX: EDV)
- USD/CAD 1.414 for September 25, 2026 (Federal Reserve Economic Data via MarketXLS)
- Endeavour Mining profile (five operating mines: Houndé, Mana, Ity, Lafigué, Sabodala-Massawa; West Africa focus)
Frequently asked questions
Is Endeavour Mining halal?
Based on this screener's AAOIFI-style checks, Endeavour Mining passes. The business gate passes: Endeavour is a gold producer with five operating mines across Senegal, Côte d'Ivoire and Burkina Faso, with no prohibited activity in its reported business. The debt gate passes: US$987.1M of total debt at June 30, 2026 (about C$1.40B at US$1 = C$1.414) is roughly 6.9% of the ~C$20.37B September 2026 market cap, against a ~33% ceiling; the company reports net cash of US$254M. The income gate passes: the Q2 2026 interim financial statements disclose interest income of US$5.6M for H1 2026 against revenue of US$2,569.3M - roughly 0.2%, far under the ~5% ceiling. This is a screening result, not investment advice or a religious ruling.
How much debt does Endeavour Mining have relative to market cap?
About 6.9% - it passes the ~33% ceiling. Endeavour reported total debt of US$987.1M at June 30, 2026: the 2030 Senior Notes (US$491.0M), drawn revolving credit facilities (US$410.0M), the Lafigué term loan (US$89.3M), plus interest accruals of US$1.6M less US$4.8M of deferred financing costs. At US$1 = C$1.414 (September 25, 2026), that is about C$1.40B against a ~C$20.37B market cap. The company holds US$1,252M of cash and reports net cash of US$254M.
What is Endeavour Mining's interest income to revenue ratio?
Roughly 0.2% - it passes. The finance-costs note in the Q2 2026 interim financial statements breaks out interest income of US$5.6M for the six months ended June 30, 2026 (against interest expense of US$32.0M, for net finance costs of US$35.1M). Against H1 2026 revenue of US$2,569.3M, that is roughly 0.2%, far under the ~5% ceiling.
Where does Endeavour Mining operate?
West Africa. Endeavour describes itself as one of the world's senior gold producers and the largest in West Africa, with five operating mines: Houndé and Mana in Burkina Faso, Ity and Lafigué in Côte d'Ivoire, and Sabodala-Massawa in Senegal - plus the Assafou and Kalana development projects and exploration across the Birimian Greenstone Belt. H1 2026 production was 564koz at an all-in sustaining cost of US$1,871/oz. The business is gold mining only: no conventional banking or insurance, no alcohol, gambling, or weapons in its reported operations.
Do Zoya, Musaffa, or ShariaPortfolio rate Endeavour Mining?
No public coverage was found as of September 2026: web searches surfaced no public Zoya page for the EDV ticker, no Musaffa public page, and ShariaPortfolio publishes no public per-stock screening pages for it. The PASS recorded here rests on Endeavour's own disclosures.