What is Caledonia Mining Corporation Plc's Shariah compliance score?

Caledonia Mining Corporation Plc (CMCL) has a Shariah compliance score of 0/100 (Grade: F, Non-Compliant). AAOIFI Standard No. 21 requires: (1) no primary involvement in prohibited activities like alcohol, gambling, or conventional banking, (2) debt-to-market-cap below 30%, (3) interest-bearing deposits below 30%, and (4) prohibited income below 5%.

Does Caledonia Mining Corporation Plc pass AAOIFI screening?

Caledonia Mining Corporation Plc (CMCL) does not pass AAOIFI Shariah screening. AAOIFI Standard No. 21 requires: (1) no primary involvement in prohibited activities like alcohol, gambling, or conventional banking, (2) debt-to-market-cap below 30%, (3) interest-bearing deposits below 30%, and (4) prohibited income below 5%. CMCL's debt-to-market-cap is 25.7%.

How much purification is needed for Caledonia Mining Corporation Plc?

Muslim investors purify the portion of dividends and realized gains that comes from non-permissible income by donating it to charity. HalalScreener's purification calculator at halalscreener.app/en/purification computes the percentage and amount for Caledonia Mining Corporation Plc (CMCL) using the latest financial data.

Where can I screen Caledonia Mining Corporation Plc for Shariah compliance for free?

HalalScreener (halalscreener.app) offers free Shariah compliance screening for Caledonia Mining Corporation Plc (CMCL) and 8,200+ securities. US-listed stocks and ETFs are screened under AAOIFI Standard No. 21. Bursa Malaysia securities carry the Securities Commission Malaysia's official status. Coins are screened separately, under published scholarly opinion. The verdict is free, with no credit card or signup required for basic screening. The compliance grade, score, and debt ratio are free too; the full ratio breakdown is part of Pro.

CMCLNot HalalF

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Compliance Status

Not Halal

Screened on Oct 13, 2026 · AAOIFI Standard 21

Non-Compliant

0Score

Is Caledonia Mining Corporation Plc (CMCL) halal? Not Halal. Based on AAOIFI screening, Caledonia Mining Corporation Plc passes the business activity screen but fails financial ratio screens with a compliance score of 0/100 (Grade: F).

Quote this verdict

HalalScreener rates Caledonia Mining Corporation Plc (CMCL) Not Halal, 0/100, grade F under AAOIFI Standard 21, screened Oct 13, 2026. Source: https://halalscreener.app/en/stock/CMCL

AvoidBorderlineClean

Business activity

What the company sells is permissible.

Passed

Company debt

Close to the limit

How much the company borrows, compared to its total value. AAOIFI allows up to 30%.

25.7% of 30.0% limit

PRO DETAIL

The verdict above is final and free.

Pro members can verify every number behind it: interest-bearing deposits, prohibited income breakdown, and the full AAOIFI math.

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Screened according to AAOIFI Standard 21

What this means for you

Most scholars advise not holding CMCL

It does not pass AAOIFI Shariah screening.

See halal alternatives from the same sector further down this page

CMCL: Is Caledonia Mining Corporation Plc Halal?

Caledonia Mining Corporation Plc

AMEXBasic MaterialsJE

$23.54

Market Cap: 455.1M

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About Caledonia Mining Corporation Plc

Caledonia Mining Corporation Plc primarily operates a gold mine in Jersey. It also engages in the exploration and development of mineral properties for precious metals. The company holds a 64% interest in the Blanket Mine, a gold mine located in Zimbabwe. It also owns 100% interests in the Maligreen project, a brownfield gold exploration project located in the Gweru mining district in the Zimbabwe Midlands; the Bilboes, a gold deposit located to the north of Bulawayo, Zimbabwe; and the Motapa, a gold exploration property located in Southern Zimbabwe. The company was formerly known as Caledonia Mining Corporation and changed its name to Caledonia Mining Corporation Plc in March 2016. Caledonia Mining Corporation Plc was incorporated in 1992 and is headquartered in Saint Helier, Jersey.

Sector: Basic Materials · Industry: Gold

Why this does not pass

Interest-bearing deposits are over the 30% limit.

Screened under AAOIFI Standard 21. The exact figure behind this is part of Pro; the failing check and its limit are always free.

Shariah Compliance Status

AAOIFI Standard 21Updated Oct 13, 2026

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Institutional-grade Shariah analysis

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PRO DETAIL

The verdict above is final and free.

Pro members can verify every number behind it: interest-bearing deposits, prohibited income breakdown, and the full AAOIFI math.

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Screened according to AAOIFI Standard 21

Compliance History

Not Halalnow
since Sep 2026
Halal
until the change above

Tracked since May 2026. Updates automatically on each re-screen.

Fiscal: Q2 2026Data source: FMP

Halal Alternatives in Basic Materials

This stock is not Shariah-compliant. Here are halal alternatives from the same sector, ranked by compliance score:

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Johan Holdings Berhad

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Frequently Asked Questions

Is Caledonia Mining Corporation Plc (CMCL) halal to invest in?

Caledonia Mining Corporation Plc (CMCL) is rated Not Halal under AAOIFI Standard 21 screening. It fails either the business activity screen (primary involvement in prohibited sectors such as conventional banking, alcohol, or gambling) or one of the quantitative financial ratio thresholds. Muslim investors should avoid or exit this position.

Why did Caledonia Mining Corporation Plc get a F compliance rating?

Caledonia Mining Corporation Plc (CMCL) received a grade of F (Non-Compliant) based on three AAOIFI Standard 21 financial ratios: debt-to-market-cap of 25.7% (limit 30%). The grade reflects the margin of safety across all three ratios relative to their thresholds.

What could change Caledonia Mining Corporation Plc's Shariah verdict?

Caledonia Mining Corporation Plc's verdict is re-evaluated at each annual re-screen. Three events could change it: (1) the debt-to-market-cap ratio crossing 30%, typically from new debt issuance or a major drop in share price; (2) interest-bearing deposits exceeding 30% of market cap; or (3) prohibited revenue (alcohol, gambling, conventional finance, etc.) exceeding 5% of total revenue. Verdict flips are tracked in the compliance history section above.

How often is Caledonia Mining Corporation Plc re-screened for Shariah compliance?

Caledonia Mining Corporation Plc (CMCL) is re-screened annually using the most recent full-year financial data from SEC filings. HalalScreener also triggers an on-demand re-screen whenever the stored data is more than 7 days old, ensuring the ratios reflect the latest available financial statements. Last screened: Oct 13, 2026.

Screened according to AAOIFI Standard No. 21 · For informational purposes only. Consult a qualified Islamic finance advisor before investing.

Disclaimer: This screening is for informational purposes only and does not constitute financial, legal, or religious advice. Compliance is evaluated using AAOIFI financial standards (debt, deposits, and prohibited income ratios) and publicly available data. Ethical, political, social, or environmental considerations are outside the scope of this screening. Individual scholars and methodologies may differ. Always consult a qualified Islamic finance advisor before making investment decisions.