Is Torex Gold (TXG) halal?

Torex Gold Resources Inc. (TSX: TXG) is a debt-free gold miner with interest income of about 0.5% of revenue — both AAOIFI-style gates clear: 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 — no haram lines identified

Torex Gold is a gold mining company headquartered in Toronto, listed on the TSX and OTCQX (TORXF). It operates the El Limón-Guajes mine complex (Morelos property) in Guerrero, Mexico, producing gold doré; the Media Luna underground project reached commercial production in 2025, with first ore from Media Luna North expected in December 2026, and the Los Reyes acquisition adds a growth option. In Q2 2026 it produced 96,297 gold-equivalent ounces (93,686 payable) and sold 92,351 gold-equivalent ounces at an average realized price of US$4,525/oz, paying a C$0.16/share quarterly dividend. Gold mining is not on standard AAOIFI haram-activity lists; no alcohol, gambling, conventional-lending/insurance, entertainment, or weapons lines are disclosed.

Gate two: the ratios — zero debt; income gate clears

At June 30, 2026 (unaudited Q2 2026 interim statements): 'Debt, net of deferred finance charges' was nil — the debt facility was fully repaid (vs US$27.6 million at December 31, 2025), and earnings-call coverage states the company ended the quarter 'with $169 million in cash, no debt and more than $500 million in liquidity.' Debt-to-market-cap is therefore 0% — under the ~33% ceiling. Note: US$99.4 million of lease-related obligations sit on the balance sheet — operating-lease liabilities, not interest-bearing debt — disclosed here as a caveat. Cash and equivalents were US$169.4 million, and market cap is about C$6.3–6.6 billion (~92.6 million shares at ~C$67–71, September 29, 2026). Interest income — the cash-flow statement separately discloses 'interest received' — was US$1.9 million in Q2 2026 against revenue of US$406.9 million (0.47%), and US$4.9 million in H1 2026 against revenue of US$946.2 million (0.52%) — well under the ~5% ceiling.

What other screeners say

No Zoya, Musaffa, or ShariaPortfolio rating for Torex Gold Resources (TXG) could be verified from public sources: no indexed Musaffa stock page exists for TXG, no public Zoya page was located, and ShariaPortfolio publishes no public per-ticker rating for it. No third-party rating is claimed here.

The bottom line

This screener gives Torex Gold Resources Inc. (TSX: TXG) a PASS. Zero interest-bearing debt (0% of market cap), interest income of about 0.5% of revenue, and no haram business lines identified. The one caveat is the US$99.4 million of lease-related obligations, disclosed above. Snapshot dated September 29, 2026; re-checked quarterly after earnings.

Sources

Frequently asked questions

Is Torex Gold stock halal?

Yes — Torex Gold Resources Inc. (TSX: TXG) passes both AAOIFI-style ratio gates on our inputs: zero interest-bearing debt (0% of market cap) and about 0.5% interest income of revenue in H1 2026, with no haram business lines identified. No current Zoya, Musaffa, or ShariaPortfolio rating for Torex Gold could be verified. Consult a qualified scholar.

What are Torex Gold's debt and market-cap figures?

At June 30, 2026 (Q2 2026 interim statements): 'Debt, net of deferred finance charges' was nil — the debt facility was fully repaid (vs US$27.6 million at December 31, 2025), and earnings-call coverage states the company ended the quarter 'with $169 million in cash, no debt and more than $500 million in liquidity.' Debt-to-market-cap is therefore 0%. Note: US$99.4 million of lease-related obligations sit on the balance sheet — operating-lease liabilities, not interest-bearing debt. Cash and equivalents were US$169.4 million. Market cap is about C$6.3–6.6 billion (~92.6 million shares at ~C$67–71, September 29, 2026).

How much interest income does Torex Gold earn?

The cash-flow statement separately discloses 'interest received': US$1.9 million in Q2 2026 against revenue of US$406.9 million (0.47%), and US$4.9 million in H1 2026 against revenue of US$946.2 million (0.52%) — both well under the roughly 5% ceiling. 'Finance (income) costs and other, net' was US$0.7 million of income in Q2 2026, consistent with the interest-received figure.

What does Torex Gold do?

Torex Gold is a gold mining company headquartered in Toronto, listed on the TSX and OTCQX (TORXF). It operates the El Limón-Guajes mine complex (Morelos property) in Guerrero, Mexico, producing gold doré; the Media Luna underground project reached commercial production in 2025, with first ore from Media Luna North expected in December 2026, and the Los Reyes acquisition adds a growth option. In Q2 2026 it produced 96,297 gold-equivalent ounces (93,686 payable) and sold 92,351 gold-equivalent ounces at an average realized price of US$4,525/oz. Gold mining is not on standard AAOIFI haram-activity lists; no haram business segments are disclosed.

What do Zoya, Musaffa, and ShariaPortfolio say about TXG?