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
Red Hill Minerals Limited is an Australia-based company. The Company is engaged in the exploration of iron ore, gold, and other minerals, including precious and base/battery metals. The Company is focused on the development of its channel iron deposits (CID) and rock quarrying opportunities in the Western Pilbara region of Western Australia. Its primary asset is Red Hill Iron Ore Joint Venture (RHIOJV). The Company holds a 100% interest in the Pannawonica channel iron project (CID), which is situated just north of the RHIOJV tenements. The Company has carried out studies for a quarrying concept based on porphyry rock outcrops at the Three Peaks site nearby to the Pannawonica Project.
RHI - Red Hill Minerals Ltd
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