Is Zhejiang Huayou Cobalt Co Ltd Stock Halal?

Zhejiang Huayou Cobalt Co., Ltd. engages in the production and sale of battery materials and new cobalt materials. The company is headquartered in Jiaxing, Zhejiang and currently employs 26,466 full-time employees. The company went IPO on 2015-01-29. The firm operates three businesses. The new energy business focuses on the RD, production and sales of lithium battery positive electrode material products, including ternary positive electrode materials and lithium cobalt oxide materials, which are used in electric vehicles, energy storage system batteries, consumer electronics and other fields. The new materials business includes the RD, production and sales of ternary precursor materials and nickel, cobalt and lithium new materials products, which are used in positive electrode materials for new energy vehicle power batteries and positive electrode materials for consumer electronics. Resource business undertakes the mining, selection and primary processing of non-ferrous metals for nickel, cobalt, lithium and copper.