Southern Copper Corporation (SCCO) - Halal (Shariah-Compliant)
Southern Copper Corporation (SCCO) is classified as Halal (Shariah-Compliant) according to AAOIFI Shariah screening standards. This assessment is based on business activity screening and financial ratio analysis using the AAOIFI methodology.
Business Activity Screen
- Sector
- Basic Materials
- Industry
- Copper
- Result
- Pass
- Reason
- The sector "Basic Materials" and industry "Copper" are not in the excluded categories.
Financial Ratios
- Debt Ratio
- Value: 7.3% | Threshold: 30% | Result: Pass
- Cash & Interest-bearing Securities Ratio
- Value: 6.2% | Threshold: 30% | Result: Pass
- Non-Permissible Income Ratio
- Value: 1.5% | Threshold: 5% | Result: Pass
Dividend Purification
Purification percentage: 1.49%.Based on the company's financial statements, approximately 1.49% of dividend income should be donated to charity for purification. This is derived from identified interest income (1.49% of total income). Some scholars may differ on the exact calculation method.
About Southern Copper Corporation
Southern Copper Corporation engages in mining, exploring, smelting, and refining copper and other minerals in Mexico, the United States, Peru, Brazil, Chile, and Other American countries. The company is involved in the mining, milling, and flotation of copper ore to produce copper and molybdenum concentrates; smelting of copper concentrates to produce blister and anode copper; refining of anode copper to produce copper cathodes; production of copper-molybdenum concentrates and sulfuric acid; production of refined silver, gold, and other materials; and mining and processing of copper, molybdenum, zinc, silver, gold and lead. It operates the Toquepala and Cuajone open-pit mines, smelter, and refinery in Peru; La Caridad, an open-pit copper mine, as well as copper ore concentrator; and SX-EW plant, a smelter, refinery, and rod plant in Mexico. The company also operates Buenavista, an open-pit copper mine, as well as copper concentrators and operating SX-EW plants in Mexico. In addition, it operates underground mines that produce zinc, lead, copper, silver, and gold; coal mine; and zinc refinery. The company has interests in 164,805 hectares and 505,788 hectares of concessions in Peru and Mexico; and 98,634 hectares and 28,453 hectares of exploration concessions in Argentina and Chile. Southern Copper Corporation was formerly known as Southern Peru Copper Corp. and changed its name to Southern Copper Corporation in July 1996. The company was incorporated in 1952 and is based in Phoenix, Arizona. Southern Copper Corporation operates as a subsidiary of Americas Mining Corporation.