Is EDV.L (Endeavour Mining plc) Halal or Haram?

Based on our AAOIFI-standard shariah screening, EDV.L is Halal and considered permissible for Muslim investors. It passed all 4 of 4 compliance screens including business activity review, debt-to-market-cap ratio (9.20% vs ≤33% threshold), interest income ratio (0.14% vs ≤5% threshold), and cash & securities ratio (3.28% vs ≤33% threshold).

Endeavour Mining plc is a leading global gold producer with a strategic focus on West Africa, operating major mines like Houndé and Mana in Burkina Faso , the Ity mine in Côte d'Ivoire, and Sabodala-Massawa in Senegal. Unlike junior miners that only explore, Endeavour is a fully operational producer extracting tangible resources, making its core business activity clearly permissible for Muslim investors. The company manages a robust portfolio of high-quality assets, consistently aiming to increase production while maintaining low all-in sustaining costs. For Muslim investors seeking exposure to commodities, Endeavour Mining is classified as Halal under AAOIFI standards, having passed all four financial screens. The company's business model is straightforward extraction and sale of gold, avoiding impermissible sectors like conventional banking, alcohol, or gambling. This 'Pass' status means you can confidently include EDV.L in a diversified Shariah-compliant portfolio without the need for extensive purification of dividends typically required for mixed-business conglomerates. Financially, the company maintains a very clean balance sheet with a debt-to-market cap ratio of just 9.2%, significantly below the 33% limit allowed by Islamic scholars. Furthermore, its cash and interest-bearing securities account for only 3 .3% of its market cap, indicating that the company reinvests capital into operations rather than hoarding cash in interest-ear ning accounts. This low leverage and minimal reliance on interest income (0.14% of revenue) make it a standout candidate for ethical investment. Going forward, investors should monitor the company's debt levels if they undertake major new acquisitions or mine developments, as mining is capital-intensive. However, given the current metrics, the primary risk is operational rather than compliance-based. As always, investors should continue to check quarterly screenings to ensure these ratios remain within the permissible boundaries as gold prices and market capitalizations fluctuate. Endeavour Mining plc operates in the Basic Materials sector under the Gold industry and is headquartered in London, GB. The company is led by CEO Ian David Cockerill and employs approximately 5,659 people.

EDV.L was screened using AAOIFI-based shariah compliance criteria. Four tests are applied: (1) Business Activity — the company's core business must not derive primary income from haram (prohibited) activities such as alcohol, gambling, tobacco, or interest-based finance. (2) Debt-to-Market-Cap — total debt must not exceed 33% of market capitalization. (3) Interest Income — interest income must not exceed 5% of total revenue. (4) Cash & Securities — cash and interest-bearing securities must not exceed 33% of market cap. EDV.L passed 4 of these 4 screens.

Although EDV.L passes all shariah screens, it does earn $3.8M in interest income (0.14% of revenue). Many scholars recommend purifying this portion by donating the equivalent percentage of any dividends received to charity. For example, if you receive $100 in dividends, you would donate approximately $0.14 to purify the income.

EDV.L was last screened on 2026-03-01. Shariah compliance status can change as companies report new financial data, acquire new businesses, or shift revenue streams. We recommend checking back periodically for the most up-to-date screening results.