Is Ero Copper / ERO Halal?
Ero Copper Corp. (TSX: ERO) is a Brazil-focused, growth-oriented miner: two copper mines (the Caraíba Operations in Bahia and the Tucumã Operation in Pará) and the Xavantina gold mine in Mato Grosso. The business has no verified haram lines, debt of US$554.434 million is about 14.0% of the ~C$5.48 billion market cap, and finance income is just ~0.51% of revenue. PASS.
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
Ero is a Brazil-focused miner with a diversified copper and gold portfolio: the Caraíba Operations (Bahia) and Tucumã Operation (Pará) copper mines, plus the producing Xavantina gold mine (Mato Grosso), and an earn-in on the Furnas copper-gold project with Vale Base Metals. 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: US$554.434 million in total debt (US$34.578 million current + US$519.856 million long-term loans and borrowings), with US$101.742 million in cash. Market cap is about C$5.48 billion (C$53.02 TSX close on September 29, 2026 × about 104.28 million shares) — converting debt at ~C$1.38/US$ puts debt at ~14.0% of market cap, below the ~33% ceiling. The income gate passes. The Q2 2026 release discloses finance income of US$1.443 million against revenue of US$284.3 million — ~0.51% of revenue, far below the ~5% ceiling. (The release labels it "finance income" rather than "interest income"; finance expense of US$12.678 million is a separate line and is not counted as income.) Gate two: passes.
What other screeners say
No publicly verifiable rating for ERO was found on Zoya, Musaffa, or ShariaPortfolio — their assessments, if any, sit behind apps or APIs and could not be confirmed. No rating is reported here.
The bottom line
This screener gives Ero Copper Corp. (TSX: ERO) a PASS. Copper and gold mining has no verified haram lines, debt is ~14.0% of market cap, and finance income is ~0.51% of revenue — both below the ceilings. Snapshot dated September 29, 2026; re-checked quarterly after earnings.
The purification angle: even on a PASS, finance income of ~0.51% of revenue means a small non-compliant share — run the purification calculator to estimate it on any dividends or gains.
Frequently asked questions
Is Ero Copper stock halal?
This screener gives Ero Copper Corp. (TSX: ERO) a PASS. The Brazil-focused copper and gold miner (Caraíba and Tucumã copper mines, Xavantina gold mine) has no verified haram business lines, debt of US$554.434 million is about 14.0% of the ~C$5.48 billion market cap, and finance income of US$1.443 million is about 0.51% of quarterly revenue.
What are Ero Copper's debt and market-cap figures?
As at June 30, 2026 (Q2 2026): US$554.434 million in total debt (US$34.578 million current + US$519.856 million long-term loans and borrowings), with US$101.742 million in cash. Market cap is about C$5.48 billion (C$53.02 TSX close on September 29, 2026 × about 104.28 million shares). Converting debt at ~C$1.38/US$ puts the debt-to-market-cap ratio at about 14.0% — below the ~33% ceiling.
Does Ero Copper earn interest income?
A small amount. The Q2 2026 release discloses finance income of US$1.443 million against revenue of US$284.3 million — about 0.51% of revenue, far below the ~5% ceiling. The release labels it “finance income” rather than “interest income”, and finance expense of US$12.678 million is a separate line that is not counted as income.
Do any third-party screeners cover Ero Copper?
No publicly verifiable rating for ERO was found on Zoya, Musaffa, or ShariaPortfolio — their assessments, if any, sit behind apps or APIs and could not be confirmed. No rating is reported here.
What could change Ero Copper's halal screener?
Heavier borrowing — for example, to fund the Furnas copper-gold project with Vale Base Metals — could push debt-to-market-cap toward the ~33% ceiling; it sits at about 14.0% today. Finance income rising above roughly 5% of revenue would also change the screen. This screener is a snapshot dated September 29, 2026 and is re-checked quarterly after earnings.