According to a court statement, the Macedonian Skopp appeals court approved a plan to restructure the bankrupt nickel project in the Balkans, paving the way for private equity group GSOL to control the plant, Bloomberg reported.

The court today passed an earlier ruling allowing restructuring of the Finney nickel mine and the plant. The plant was shut down in October 2017.

GSOL has operated the asset under a management agreement since February. A total of 10,000 tons of nickel were produced during this period.

GSOL was founded in 2009 to invest in nickel operations, including the Falcondo nickel iron plant in the Dominican Republic, which was acquired from Glencore (Glencore) in 2015.

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