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Prof. Lachezar Tsotsorkov, PhD



first1.jpg "Assarel - Medet" Mining and Processing Complex

 Prof. Lachezar Dimitrov Tsotsorkov, PhD used to be Chairperson of the Supervisory Board of Assarel-Medet JSC from July 2014 by May 16, 2017 when he passed away. He was awarded with the highest state prize, Stara Planina – First Grade medal and Manager of the Year 2009. He was an honorary citizen of the towns of Panagyurishte and Strelcha and a sponsor who contributed to the implementation of numerous significant projects and charity causes in the municipality and the country. As a patron of culture he was repeatedly honored with the Zlaten Vek (Golden Century) award by the Ministry of Culture.

Assarel-Medet JSC Mining and Processing Complex


He graduated from his secondary education at Nesho Bonchev High School in his hometown Panagyurishte and acquired his university education degree at the Technical University (the former High Mechanical Electrotechnical Institute) in Sofia in Lifting Transportation, Construction   and Mining Equipment. Subsequently, he specialized in Management and Marketing in Bulgaria, Austria and Japan.


Professional experience

He started work at the Repairs and Mechanical Workshop of Medet Mining and Processing Complex in 1971 as a scholarship student of the company. During the period from 1979 to 1985, he managed the construction of a new site of Oborishte Plant in  Panagyurishte (today’s company Yana).

In 1986, he became a General Director of Assarel-Medet Technological Mining and Processing Complex. His personal initiative, professionalism, organization qualities and dedication to work were crucial for the construction and commissioning of the new capacities of the Assarel Mine and Assarel Concentrator Plant on December 6, 1989. Since 1991, he was Executive Director of  Assarel-Medet Sole Proprietor JSC. In 1998,  together with  2,756 colleagues from the company, founded the investment company Assarel-Invest JSC in which the Austrian company Vöst Alpine Intertrading later acquired a majority share through their subsidiary VA Copper Invest.  In a competition with a famous foreign company, Assarel-Invest JSC won the bid for privatizing 75 % of the capital of Assarel-Medet Sole Proprietor JSC in June 1999.  Shorty after that, the company accomplished ahead of schedule all of their obligations under the Privatization Agreement, without using any legally stipulated privileges for the so called worker-manager partnerships.

In 1999,  Prof. Lachezar Tsotsorkov, PhD became Executive Director and member of the Board of Directors of Assarel-Medet JSC. Under his management, the company was successfully restructured and modernized applying the best European and world practices in the technologies, environmental protection and corporate social policy.  Today, the company is among the key industrial enterprises in the country and  a leader in Bulgarian ore mining of sustainable, environmentally friendly and occupationally healthy and safe operations. 


Social activity

In 1991, Lachezar Tsotsorkov became one of the founders of the Bulgarian Chamber of Mining and Geology and he was reelected as its chairperson. After his second term expired, on April 27, 2017, he was elected the first honorary member of the Bulgarian Chamber of Mining and Geology. He had an active participation and contribution to the successful development of mining industry and establishing the foundations of a contemporary model of a social dialogue with the miners’ trade unions which was crucial for the social peace in those hard for the country years.   

From 1992 to 2012, he was a member of the Management Board of the Bulgarian Industrial Association and after 2012 he participated in the Advisory Board of the Confederation of Employers and Industrialists in Bulgaria.  Member of the Board of Directors of the Atlantic Club for long years. He took an active part in the support and development of cultural community center  activity, sport and tourism in the municipality of  Panagyurishte.

Mr. Tsotsorkov was among the founders and first chairperson of Srednogorie Med Cluster, Pirdop and the Alliance of Entrepreneurs in  Panagyurishte. In 2000, he became a member of Rotary Club,  Panagyurishte. As Executive Director of Assarel-Medet and Chairperson of the  Bulgarian Chamber of Mining and Geology, he was actively involved in the work of Euromine, European Business Congress, UN Global Compact Network Bulgaria and other business associations and non-governmental organizations. His autobiography titled 60 Instants of My Life was published in 2009.  In 2010, he initiated the establishment of Reform Union Club in 2010 and was elected his first chairperson. 


Scientific activity

Prof. Lachezar Tsotsorkov, PhD was a member of the International Organizational Committee of the World Mining Congress in Warsaw and participated in the management boards of the Scientific Technical Union in Mining, Geology and Metallurgy and Bulgarian National Mining Committee since  1994. He issued a book in corporate management and defended PhD thesis on topic Fundamentals of Corporate Culture in Mining and Processing Complexes in front of the Higher Attestation Committee in 2000. In 2014, he became a honorary professor of St. Ivan Rilski University of Mining and Geology and did lecturing in Corporate Management to students from  St. Ivan Rilski University of Mining and Geology and New Bulgarian University.
As a member of three international academies in mining and mineral resources, he had numerous publications in Bulgarian and foreign scientific  and technical editions and  registered patents and rationalizations.

Reasons why  Lachezar Tsotsorkov was honored with Stara Planina medal 

In 2006, when Lachezar Tsotsorkov was Executive Director of  Assarel-Medet  and Chairperson of the Bulgarian Chamber of Mining and Geology, he was honored with Stara Planina – First grade medal by virtue of  Decree No. 301 from July 19. 
The main reasons why he distinguished with the highest state award originate from his exclusive merits for the following:
- New construction and modernization of Obirishte Plant (today’s Yana) in  Panagyurishte;
- Construction of the  Assarel Mining and Processing Complex and commissioning its capacities in very short terms
- Successful restructuring, modernization and implementation of European and world standards in the operations, environmental protection and occupational health and safety at Assarel-Medet JSC Mining and Processing Complex – a company of a  fundamental significance for Bulgarian economy.
- Development and implementation of Bulgarian know-how in the area of corporate culture and contemporary corporate management. 
- Establishment and development of new national and regional business and employer organizations such as the Bulgarian Industrial Association, Bulgarian Chamber of Mining and Geology, Alliance of Entrepreneurs,  Srednogorie Med Industrial Cluster. 
- Sustainable development of mining industry under the conditions of   economic transition and laying the foundations of contemporary model of social dialogue with miners’ trade unions which contributed to preserving the social peace in the eve of the first democratic elections in the country after  1989
- Raising the international prestige of   Bulgaria through the active involvement in Euromine, Brussels; Karl Duisberg International Foundation, Cologne;   International Organizational Committee of the World Mining Congress, Warsaw; International Academy of Mineral Resources, Moscow; Russian Mining Academy, European Business Congress, Atlantic Club, etc; 
- Long-year manager of the company  which is the biggest sponsor in the municipality of Panagyurishte rendering support to  important infrastructural projects, support to healthcare, education, culture, sport and tourism, establishing cooperation between Panagyurishte  and leading European cities, support to national charity and social initiatives.

IMG_4851.3.jpg Eng. Lachezar Tsotsorkov, PhD