Corporate Profile
Assarel-Medet Mining and Processing Complex is the first, largest and leading Bulgarian mining company for open pit mining and processing of copper and other types of ores. It is located in the Sashtinska Sredna Gora Mountain to 11 km northwest from the town of Panagyurishte and to 90 km east from the capital, Sofia, covering an area of 20, 000 decares at an average altitude of 1000 m.
Subject Of Activity
Assarel-Medet JSC is a joint-stock company with a core activity open pit mining and processing of copper and other types of ores, biochemical leaching of copper and the engineering and trade activities associated with it. The company performs research, engineering implementation, design engineering, environmental and other services.
Foundation, Restructuring, Shareholders
The beginning of the production activity was set on December 29, 1964 when the Medet Mining and Processing Complex was inaugurated with an official ceremony. The Assarel-Medet Technological Mining and Processing Complex consolidating the Medet Mining and Processing Complex (1964-1994) and the newly constructed Assarel Mining and Processing Complex (1989) was established in 1986.
Assarel-Medet Sole JSC, a joint-stock company with a sole share held by the state, was created in 1991. On December 23, 1998 it was the first in the country to acquire concession for mining ores and minerals and on June 15, 1999 the first privatization in the mining industry took place. At that time 75 % of Assarel-Medet’s capital was privatized by Assarel-Invest JSC, a Bulgarian joint-stock company created with the majority share of the strategic partner Voest Alpine Intertrading, Austria and of the workers, employees and the management team. Assarel-Medet JSC became a company with entirely private capital after 2005 when Assarel-Invest JSC signed an agreement with the Bulgarian Privatization Agency for purchasing the residual package of shares.
The joint stock capital of Assarel-Medet JSC is distributed into 4, 022 ,038 nominal shares with a voting right. According to its structure after the merger of Assarel-Invest JSC unto Assarel-Medet JSC in 2008 68.58% of the shares are possessed by „VA COPPER INVEST ” LTD and 31.42 % are distributed between 2, 359 physical persons who are rightful shareholders.
Products
Assarel-Medet JSC produces and offers high quality copper concentrate, cementation and cathode for the country and abroad. The obtained products are mainly raw materials for copper smelters and partially for chemical and ceramic industry. The company produces about 200 thousand tons of natural copper concentrate per year with 25% copper grade.
"Assarel - Medet" Mining and Processing Complex
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Assarel-Medet JSC has been certified and it works in compliance with the three major international standards for quality management, environment protection and healthy and safe labor conditions.
Assarel Medet JSC was the first company in the Bulgarian mining industry to be awarded with the Certificate for Quality Management ISO 9001 in 1999 and it was also the first in the country to be awarded with the Certificate for Environment Protection under the standards of ISO 14 001 in 2002. It defended the first in the country certificate according to the OHSAS 18 001 standard for healthy and safe labor conditions in 2003.
and it implemented an Integrated Management System according to the international standards for quality management, environment protection and labor safety.
Assarel-Medet JSC is the first Bulgarian company from the high risk heavy industry which implemented an Integrated Management System according to the three major international standards for quality management, environment protection and labor safety in 2003.
Production Results
As a mining and processing complex performing its activities on the Assarel copper deposit, Assarel-Medet JSC produces the largest volume of mined material in the Bulgarian mining industry and it processes about 13 mln. tons of copper ore per year. The achieved top results for the industry provide more than 50 % of the national and about 0,5 % of the world production of the vital metal for the human development called copper.
Innovation and Modernization
Assarel-Medet JSC is traditionally a pioneer in the mining industry in the implementation state-of-the art equipment and technologies among which are the first in the Bulgarian mining industry Cyclic Flow Conveyor Technology for transportation of mined material and a Microbiological Facility for Copper Leaching.
Assarel Medet JSC is the first Bulgarian company which was awarded a First Class Investment Certificate by the Bulgarian Investment Agency in 2005 for its project for a large-scale operations modernization project at the amount of more than 100 mln US Dollars. In 2006 the company was honored with the Ikar award for innovations by the Bulgarian Chamber of Commerce for the implementation of state-of-the-art equipment and technologies.
Assarel Medet JSC possesses unique for the country mining machines and state-of-the-art flotation equipment produced by leading world companies. The major mining equipment of the Assarel mine consists of a 250 mm bit drills, 130-tonne trucks and 17 m3 Liebherr shovels.
The first in the north hemisphere latest generation 160 m3 flotation cells work in the Assarel concentrator. Automated systems for monitoring and control of technological processes ensuring high efficiency and productivity are implemented in the Assarel Mine and Concentrator Plant.
The Assarel-Medet team unites 1200 professionals and about 300 people employed in associated and affiliated companies.
The affiliated and joint companies of Assarel-Medet JSC are Dino NytroMed JSC, Thracians hotels JSC, Assarel-Remont JSC, Assarel-Trance JSC and Assarel – Food and Catering Complex Sole Ltd.
As a representative of the socially responsible business Assarel-Medet is performing its activity transparently and in a dialogue with all parties concerned. It is an active member of the Bulgarian Chamber of Commerce - Union of the Bulgarian Business, Bulgarian Chamber of Mining and Geology, Confederation of Industrialists and Employers in Bulgaria, European Chamber of Commerce and Industry, Bulgarian Forum of Business Leaders, European Business Congress and the UN Global Compact. The company is among the initiators who created the Alliance of Entrepreneurs in the town of Panagyurishte which unifies representatives of the local business and works for project implementation of mutual interest.