Is CHWM halal?
Chilwa Minerals Limited - Ameri
Halal
Chilwa Minerals Limited - Ameri passed every check under AAOIFI Shariah standard No. 21: no prohibited business activity, and all three financial ratios are within limits.
Checked: 24 October 2026
Exchange
NASDAQ
Price
5.2
Day
-1.70%
Market cap
$534.8M
Industry
Other Industrial Metals & Mining
Sector
Basic Materials
What the company does
Chilwa Minerals (Australia) explores for heavy mineral sands (critical minerals such as titanium and zirconium ores) at its Chilwa project in Malawi. No mining or revenue yet; funded by share sales. Its primary listing is the ASX (CHW); ADSs began trading on Nasdaq in October 2026.
What was checked
The AAOIFI standard has four steps: business activity first, then three financial ratios. Fail one and the stock is not halal.
Business activity
No prohibited activity
Interest-bearing debt / market cap
limit 30%
Interest-bearing debt $46K ÷ current market cap $534.82M = 0.0%
0.0%
Pass
Cash & investments / market cap
limit 30%
Cash + interest-bearing securities $755K ÷ current market cap $534.82M = 0.1%
0.1%
Pass
Non-compliant income / total revenue
limit 5%
—
No data
Figures from the company's filings (2026-06-30), USD. Market cap is a 36-month average (the S&P Shariah index approach), so a one-day price move does not flip the verdict.
For information (AAOIFI 3/1 note): cash + receivables are 3.8% of total assets (2026-06-30). AAOIFI recommends tangible assets of at least one third — this figure does not affect the verdict, and other major screeners do not apply it either.
In the lists
- In the S&P 500
- Not in the S&P 500
- Among halal stocks
- 0.00% · #986 of 1445
- Held by funds
- Not held by any tracked fund
Halal stocks in the same industry
The largest halal stocks in Other Industrial Metals & Mining — for comparison.
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Halal is the first question. The second: when to enter?
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This is neither investment advice nor a fatwa. Screening is based on public financial statements and AAOIFI standard No. 21; data may lag. For a personal decision consult your own scholar.