OceanaGold (OGC) said Wednesday that it has obtained regulatory approval from the Toronto Stock Exchange to renew its share buyback program to repurchase up to 22 million shares over the next 12 months.

The authorization allows the gold and copper producer to repurchase a maximum of 10% of its public shares starting Friday, the company said.

OceanaGold previously approved up to $350 million in total share buybacks for the year, having completed $134 million so far, the company said.

Shares of the company were up more than 4% in recent Wednesday premarket activity.