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
Fenix Resources Ltd is an Australia-based company, which is engaged in the mining and production of iron ore. The Company is engaged in exploring, developing, and mining mineral tenements in Western Australia. The Company’s 100% owned, flagship Iron Ridge Iron Ore Mine, is a direct shipping ore deposit that hosts the highest grade iron ore in Western Australia. The Company operates through two segments: Iron Ridge Project and Trucking Joint Venture. The Iron Ridge Iron Ore Project is located approximately 600 kilometers (km) north-northeast of Perth and approximately 67 km northeast of the township of cue in the Murchison region. It holds six tenement licenses (M20/118-I, E20/936, L20/83, L20/84, L20/85, G20/28) in Iron Ridge Iron Ore Project. The haulage and logistics services to its Iron Ridge Project is provided through Fenix-Newhaul Pty Ltd (Fenix-Newhaul). The Fenix-Newhaul business provides additional logistics support to its operating iron ore loading facilities at Iron Ridge.
FEX - Fenix Resources Ltd
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