01:45 PM EDT, 10/25/2018 (MT Newswires) -- Star Diamond (DIAM.TO) was up 21% after earlier touching a 12-month high as the company said on Thursday Saskatchewan's Ministry of the Environment has approved the company's Star-Orion South Diamond Project, adding to earlier federal approval for the province's first diamond mine.

"This approval, alongside the previous positive Federal decision, marks a major milestone towards the development of a diamond mine in Saskatchewan," Kenneth MacNeill, the company's chief executive, said in a statement "We have previously demonstrated that the proposed Star - Orion South Diamond Project can be successfully constructed and operated and are very pleased that the project has now received positive federal and provincial environmental decisions."

The company's shares were last seen up $0.055 to $0.32, after earlier touching a 52-week high of $0.34 on the TSX Venture Exchange

Price: 0.33, Change: +0.07, Percent Change: +24.53