Purification and Zakat (for long-term investing) calculations are in USD per share and based on AAOIFI methodology. AAOIFI requires purification every financial period (e.g. quarterly).
If you follow S&P Shariah’s Dividend-only purification, then remove the impure income % from the dividends you receive. No purification required for non-dividend paying stocks, according to S&P Shariah.
For Zakat, if you did not invest in a company from a long term perspective, then consider the shares as trading goods and give 2.5% of the total value if a year has passed on them.
Company Profile
Australian Mines Limited is an Australia-based producer and supplier of technology metal materials to the electric vehicle and energy storage industries. The principal activity of the Company is the pre-development of its 100%-owned Sconi Project located in North Queensland, Australia. The Sconi Project is a source of advanced battery materials in Queensland, Australia. Sconi’s end-to-end production supplies battery plants across the world. The Sconi Project, which is located in Greenvale, Queensland, approximately 220 kilometers (km) northwest of Townsville, focuses on delivering the carbon neutral certified nickel and cobalt. It has two other early stage, green metals, exploration, and development projects, including the Flemington Project (cobalt-scandium-nickel-copper-gold) in New South Wales (NSW) and the Lennard Project (nickel sulphide) in Western Australia (WA). Its battery- grade nickel and cobalt crystals are critical materials for the production of lithium-ion batteries.
AUZ - Australian Mines Ltd
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