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
Globe Metals & Mining Limited is an Australia-based resources company. The principal activities of the Company are to explore, develop and invest in the resource sector. The Company operates through two segments: Africa-Kanyika and Africa Exploration. The Africa-Kanyika segment includes the Kanyika Niobium Project in Malawi, which comprises AML0026. The Africa-Exploration segment includes the exploration prospecting license EPL0421/15, which lies adjacent to AML0026. Its Kanyika Niobium Project focuses on producing niobium and tantalum products, which are key additives in high strength-low alloy (HSLA) steels and electronics. The project targets producing niobium and tantalum for the predicted global supply shortfall for super alloy metals. The Kanyika Niobium Project in Malawi focuses on producing high purity niobium pentoxide and tantalum pentoxide powders. The Kanyika operations produce a pyrochlore mineral concentrate that contains both niobium and tantalum.
GBE - Globe Metals and Mining Ltd
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