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
Macarthur Minerals Limited is an Australia-based iron ore development and lithium exploration company. The Company has three iron ore projects in the Yilgarn region of Western Australia. The Lake Giles Iron Project mineral resources include the Ularring hematite resource (approved for development) comprising Indicated resources of approximately 54.5 million tons and Inferred resources of over 26 million tons; and the Lake Giles magnetite resource of approximately 53.9 million tons (Measured), 218.7 million tons (Indicated) and 997 million tons (Inferred). The Lake Giles Iron Project also contains Proven Ore Reserves of 51.9 Mt and Probable Ore Reserves of 184.7Mt. The Company also owns mineral rights for iron ore on two tenements located in the Pilbara region of Western Australia, Strelley Gorge – E45/4735 and Tambourah North – E45/5324. In addition, the Company has lithium brine interests in the Railroad Valley, Nevada, USA.
MMS - Macarthur Minerals Ltd
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