Styrian Mining Company Causes Problems for Austrian Banks

Energy › Mining ♦ Published: December 28, 2011; 19:16 ♦ (Vindobona)

The Austrian mining company Decometal has debts reaching € 250m. Now, the company will be restructured. Loans must be extended.

Styrian Mining Company Causes Problems for Austrian Banks / Picture: © Vindobona.org

The Styrian Decometal, which bought mining companies in Albania, Australia, Canada and South Africa, is unable to repay its debts at their due date. Decometal also trades with metals and ores. Especially Raiffeisen has a large exposure, reaching € 140m. Raiffeisen Styria´s exposure amounts to € 40m, loans by the Styrian Hypo total € 30m. Raiffeisen Upper Austria´s loan volume is…

or Log In

Fast News Search
Related News
East Coast Minerals Reaches Milestone in Lithium Project (September 14, 2011)
Australian Mining Company Seeks to Extract Lithium (February 11, 2011)
Read More
Mining, Banking Industry, NPL Non Performing Loans, Erste Group, Bank Austria, RZB Raiffeisen Zentralbank, Albania, Australia, Canada, South Africa
Featured
See latest Vindobona Newsletter