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Styrian Mining Company Causes Problems for Austrian Banks

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: © Flickr

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…

This article includes a total of 219 words.

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