By Josh Beckerman

Polymet Mining Corp. shares were recently up 77% to $4.77 on the NYSE American exchange after a favorable court ruling Thursday related to its NorthMet project in Minnesota.

Polymet is majority owned by Glencore PLC.

A Ramsey County District Court judge found that a water permit for the copper-nickel-precious metals project was issued with proper procedures.

Write to Josh Beckerman at josh.beckerman@wsj.com