of the Supervisory Board

Prof. Lachezar Tsotsorkov, PhD - Chairperson of the Supervisory Board  


Prof.  Lachezar Tsotsorkov, PhD is Chairperson of the Supervisory Board  of Assarel-Medet JSC, the largest and fundamental company in the municipality of Panagyurishte and the district of Pazardzhik. He has been awarded with the highest insignia of honor – Stara Planina – First Grade Medal as well as Manager of the Year 2009 Prize. He is an honorary citizen of the town of Panagyurishte and town of Strelcha and sponsor of numerous significant projects and charity causes in the municipality and the country. As a culture patron he has been honored with the Zlaten Vek Prize by the Ministry of Culture.

" Assarel - Medet" Mining and Processing Complex


He completed his secondary education at Nesho Bonchev High School and graduated from the Technical University (former High Institute of Mechanical and Electrical Engineering) in Sofia in Lifting Transportation, Construction and Mining Equipment. He has undergone specializations in marketing and management in Bulgaria, Austria, and Japan.

Professional experience

He started work at the Repairs Mechanical Shop of the Medet Mining and Processing Complex in 1971, as a scholarship student of the company. During the period 1979-1985 he managed the construction of a new site of Oborishte factory – town of Panagyurishte /nowadays Yana factory/. 
In 1986 he took the position of General Director of Assarel-Medet Technological Mining and Processing Complex. His personal initiative, professionalism, organizational skills and dedication in work were crucial for the successful building and commissioning of the new capacities of the Assarel Mine and Concentrator on December 6, 1989. In 1991, he took the position of Executive Director of Assarel-Medet JSC. 
In 1998, together with 2756 colleagues from the company, he founded the investment company Assarel-Invest JSC in which later the majority share was acquired by the Austrian company Voest Alpine Intertrading (VAIT) through its affiliate VA Copper Invest. The company Assarel Invest JSC in competition with a known foreign company in the branch, won the tender for privatization of 75% of the capital of Assarel Medet JSC in June 1999. Thereafter the company fulfilled ahead of schedule and all its obligations as per the privatization agreement without using any privileges stipulated by law for the so called workers-managers companies. 
In 1999, Prof. Dr. Lachezar Tsotsorkov took the position of Executive Director of the Company and member of the Board of Directors of Assarel-Medet JSC. Since July 2014, he is Chairperson of the Supervisory Board of the Company. 
Under his management the company has been successfully restructured and modernized applying the best European and world practices in technologies, environment protection and corporate social responsibility. Today, the company is among the leading industrial enterprises in the country and a leader in the Bulgarian ore mining with sustainable, environmentally friendly and occupationally safe operations.

Social Activity

 In 1991, Lachezar Tsotsotkov was among the founders of the Bulgarian Chamber of Mining and Geology and so far he has constantly been re-elected for its chairman. He has actively participated and contributed to sustainable development of the mining industry and putting foundations of the modern model of social dialogue with the mining unions, and also contributed to preservation of the social peace during difficult years for the country. He was a member of the Management Board of the Bulgarian Industrial Association from 1992 to 2012, and since 2012 he has been participating in the Advisory Council of the Confederation of employers and industrialists in Bulgaria.   

 Actively involved in supporting and developing of community center work, sport and tourism in the municipality Panagyurishte. He is among the constitutors and the first chairman of the Srednogorie Med Industrial Cluster, town of Pirdop, and the Alliance of Entrepreneurs, town of Panagyurishte. Since 2000, he has been a member of Rotary Club - Panagyurishte. As an Executive Director of Assarel-Medet JSC and chairman of the Bulgarian Chamber of Mining and Geology, he is actively involved in the activities of Euromine, European Business Congress, UN Global Compact in Bulgaria, and a number of other business associations and non-governmental organizations. In 2009, he published his autobiographical book entitled 60 Moments of My Life. He was initiator for the establishment of Club Manager in 2010 and he was elected as its first chairman.


Scientific Activity

Prof. dr. eng. Lachezar Tsotsorkov is a member of the International Organizing Committee of the World Mining Congress, Warsaw. He has been participating in the Management Councils of the Scientific and Technical Union in Mining, Geology and Metallurgy and the Bulgarian National Mining Committee since 1994. 
He also published a book on company management and defended a doctoral thesis on topic Foundations of Corporate Culture in Mining and Processing Complexes to the Higher Attestation Committee in 2000. 
He is an actual member of three international academies in the field of mining and mineral resources.
He has a lot of publications in Bulgarian and foreign scientific and technical issues, as well as registered patents and rationalizations.
   Married with two children.



Мotives for the award medal Stara Planina

The Executive Director of Assarel-Medet and Chairman of the Bulgarian Chamber of Mining and Geology - Lachezar Tsotsorkov Dipl. Eng. PhD. was awarded with a medal Stara Planina – first grade, pursuant to Presidential Decree No. 301 dated 19.07.2006.

The main motives for awarding him with the highest state medal, result from his exceptional contribution to:
- New construction and modernization of Oborishte factory /nowadays Yana factory/ in Panagyurishte;
- Construction of the Mining and Processing Complex Assarel and utilization of the new capacities in short terms;
- Successful restructuring, modernization and implementation of European and world standards in the production, environment, safety and health in operations in the Mining and Processing Complex Assarel-Medet JSC - a company with structural-determinant significance for the Bulgarian economy;
- Development and implementation of the Bulgarian know-how in the area of the company culture and modern company management;
- Construction and development of new national and regional business and employers organizations, as the Bulgarian Industrial Association, Bulgarian Chamber of Mining and Geology, Association of Entrepreneurs, Industrial cluster Srednogorie Med;
- Sustainable development of the mining industry in terms of economic transition and lay the foundations for modern model of social dialogue with miners' unions, contributed to maintaining the social peace on the eve of the first democratic elections in the country after 1989;
- Raising the international prestige of Bulgaria, through active participation in the UN Global Compact - New York, Euromine - Brussels, the International Foundation Carl Duisberg - Cologne, International Organizing Committee of World Mining Congress - Warsaw, International Academy of Occupational Safety - St Petersburg, International Academy of Mineral Resources - Moscow, Russian Mining Academy, European Business Congress, Atlantic Club and others;
- Longtime manager of the company - the biggest sponsor in Panagyurishte municipality for the construction of major infrastructural projects, support to the health, education, culture, sport and tourism, helping to establish cooperation between Panagyurishte and leading European cities, support of national charities and community initiatives.

Eng. Lachezar Tsotsorkov, PhD