Legend has it that a water sprite known as the Wassermann once lived in a cave near Lake Leopoldstein in the vicinity of Eisenerz. One day the local people set a trap and caught him because they believed that he owned rich treasures. In exchange for his release, the captive promised them “gold that will last ten years, silver for a hundred years or iron for all eternity”. The people of Eisenerz chose the iron and iron has been mined in the Erzberg ever since. Nowadays this is done through open-pit mining, as evidenced by the characteristic layers on the mountain.
