Shares of Taseko Mines (NYSEMKT: TGB) surged Thursday morning and were trading 18% higher as of 11:30 a.m. ET after surging 23% earlier in the day to levels last seen in May. The Canada-based copper miner has received a crucial final permit for one of its mines, which should boost its production significantly in the coming years.

This morning, Taseko announced that it has received the final underground injection control permit from the U.S. Environment Protection Agency for its Florence copper mine in Arizona.

Taseko currently operates only one mine, Gibraltar, in Canada. Although Gibraltar is the second-largest open-pit copper mine in Canada, the company's aim is to build lower-cost mines, which is why it acquired the Florence copper mine in 2014.

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Source Fool.com