The success of a business has long been more than just a narrative of annual report results, but a collection of inspiring stories of contributions to society and of people writing their personal stories of life and professional success together. This is the formula that applies to Asarel-Medet, the mining company in Panagyurishte that in 2022 confirmed that it is destined to succeed.
Sustainable development of a mining company: mission possible
The Chairman of the Supervisory Board of Asarel-Medet Dimitar Tsotsorkov became the first Bulgarian to receive an award from the UN Global Compact in New York for his contribution to the Sustainable Development Goals. In 2022, he was selected as one of ten global SDG Pioneers Award winners, as determined by the UN administration, civil society representatives, academics and previous winners of the award.
The global award has been given since 2016, and this is the first manager from a mining company in the world to receive the prestigious accolade. The sign is that if we manage the heavy industry well, we have a chance to think even bigger about sustainability as a balance between economic growth, care for the environment and social responsibility.
"I would like to thank the entire Assarel-Medet team, because this award is a recognition of everyone's efforts, innovations and good work," Dimitar Tsotsorkov said when announcing the award. He dedicated the award to his late father, Prof. Dr. Lachezar Tsotsorkov, highlighting his vision for investments with the future in mind. "The old stereotypes about mining are now being overcome. This industry is a field and engine for many innovations, and copper is a basic raw material for the development of green technologies," the Chairman of the Supervisory Board also pointed out. According to him, modern digital solutions allow businesses to manage their processes much more efficiently, reduce their carbon footprint and take better care of the environment, energy efficiency and management of all resources.
Roadmap, not a one-off action
For two decades now, the company has been working with the understanding that sustainable development is not a one-time action, but a roadmap with clear goals and a long-term horizon. "Asarel-Medet" has 7 company programs for sustainable development, and over BGN 73 million have been invested in them in 2022, according to preliminary data. With this, in the 21st century, about BGN 1.5 billion have already been invested for modernization of the production process, development of the mineral-raw material base, energy efficiency, environmental protection, labor safety, human capital development and corporate development . In practice, these are hundreds of implemented projects - of different caliber, but in the same direction. A significant example is the two cyclic-flow technologies for ore transport and opening in the Panagyurishte mine. They reduce emissions from cars in the mine by 40% and reduce transport distances. Another success is the extraction and electrolysis plant, which is an example of a circular economy because it produces pure cathode copper from practically waste products.
The technological revolution in the mine
Dimitar Tsotsorkov's award from the UN Global Compact is in the field of digital transformation. For mining specialists, this is a great recognition because it is related to the implementation of new and very expensive technologies. Can it be done without them? Not if next-generation mining is being developed. The old mines had operated without modern automated process control systems, but their standards were radically different, and the current results seemed a mirage.
The Asarel-Medet team today is proud of its super-modern automated systems from the world's technological giants, which allow management, monitoring and control of work processes in real time. Moreover, the company is involved in international research projects for new developments. "Asarel-Medet" is the only Bulgarian participant in the innovative European project X-Mine, which tested technologies considered the future of mining. Now the company is part of a new scientific research project - AGEMERA, which explores the European potential in terms of critical raw materials needed for the green transition.
Not technology, but people are behind success
"We implement the latest integrated solutions, invest in innovation and use the best of technological advances, but the most important for success are people, because they carry the charge for change and development," says Dimitar Tsotsorkov. "Automated systems are making a technological revolution in our industry, significantly easing the work of colleagues, improving labor safety and nature protection, but we do not perceive them as something that can replace humans," he also believes.
"For the company to grow, we need to keep up with the latest technology in all aspects of our business, but people will continue to be the main driving force of success - the ones behind even the most advanced technology and creating innovation", also confirms Eng. Nikolay Peltekov, who has been the executive director of "Asarel-Medet" since the beginning of 2023. In order to ensure the sustainable development of the company, he will work in close cooperation with the previous executive director, Eng. Delcho Nikolov, who is chairman of the Management Board, as well as with the chairman of the Supervisory Board Dimitar Tsotsorkov.
Continuity is in the spirit of company culture, and Eng. Peltekov is an example of successful career development in the company. He is a native of Panagyurishte and for 25 years in "Asarel-Medet" he passed through all levels of the hierarchy. As a young specialist, he started as a mechanical locksmith and mechanic, then became a section manager at the Asarel mine, managed the Overhaul Refinery and the Overhaul Engineering department, before becoming the Director of Overhaul and General Manager. He is convinced that the best formula for the company is to build and develop its personnel itself, so that everyone gets a chance to learn and grow through different positions, if they have the abilities, achieve results and set a good example.
A business with an outstanding contribution to its region
"Our priority is new technologies and investments in the development of people", summarizes Eng. Delcho Nikolov, Chairman of the Management Board of "Asarel-Medet". He emphasizes that the mineral industry has a long-term development horizon and ensures stability and well-being of the regions in which it develops. About 1200 people directly work in the mining and beneficiation complex, and 93% of them are from the municipality of Panagyurishte. There are even more people working in subsidiaries and joint ventures.
Assarel Group creates more than 60% of the produced output and more than 70% of the added value of the industry in Panagyurishte, according to an analysis by the Institute of Market Economy made in 2022. It shows that the mining company has an extremely deep socio-economic impact on the development of its region. Among the biggest investments that are changing the face of the municipality are the donation vault hall for the Panagyurishte Golden Treasure, the new hotel infrastructure and the public-private partnerships for the construction of the modern multi-specialty hospital and the sports hall in Panagyurishte.
Thanks to the investment in the modern Uni Hospital General Medical Treatment Facility, a small Bulgarian municipality met the pandemic in second place in terms of number of doctors per capita in the country, the IME study also showed. And during the lockdowns in the tourism industry, the mining company continued to invest in its hotel infrastructure to develop the local potential in this area.
Mythbusters in Panagyurishte style
In the ten years since the opening of the donation hall of the Panagyurishte Golden Treasure in the town in Sredna gora, nearly 1 million people have visited the exposition of the Thracian masterpiece. The original of the Treasure returned home to Panagyurishte last year, when over 7000 tourists from the country and abroad saw it in just a month and a half, the museum reports.
In itself, the project of the vault hall is a real architectural treasure. However, its great added value is the strong impetus it gives to the development of local tourism. This busts the myth that tourism cannot develop in harmony with mining. On the contrary - tourist visits to the local museum increased more than three times in the first four years, to continue at a rapid pace and to seriously increase the number of overnight stays in the mid-town. The record of tourist visits to Panagyurishte is currently held since 2019, when per capita it was 7 times higher than the national average, according to a study by the Institute of Market Economy.
Perspective for young people
"When choosing a profession today, not only the salary, work environment, access to new technologies and career opportunities are important, but also the living environment and the balance between work and personal time. An advantage is that our social investments of the last decade have turned Panagyurishte into a much more attractive place - because of the professional prospects, health care, the rich cultural calendar, the tourist potential. Our investment in the development of the local hospital attracted young specialists and families from other regions, and more young people from the municipality see the prospect of staying and pursuing a career in the place where they were born," says executive director Eng. Nikolay Peltekov.
An example of this is given by Maria Ilkova, the honors student of the fourth year of dual education, who graduated from the Panagyurishte Vocational High School in 2022. She accepted the invitation to start working at "Asarel-Medet" and continued to study part-time at the University of Mining and Geology. Tsvetan Kuzmanov is from the first batch of dual students and works as a car mechanic at the Central Repair Base. In 2022, he became the first to leave dual training to receive the company's best in profession award just three years after starting his career with the company.
A company with a big heart
People and heavy equipment from Asarel-Medet had to help extinguish large forest fires twice in 2022 - near the villages of Kalugerovo and Lesichovo in late July and near the village of Elshitsa in August. "I would like to thank the management and all the employees for the outstanding contribution you have made to control the fire. The truth is that without your equipment and the round-the-clock work of your guys, it would have been difficult to cope," said Pazardzhik Regional Governor Trendafil Velichkov at the time.
A total of 24 asarelians - firefighters, bulldozers, mining engineers, security guards and drivers - received company awards on Miner's Day for their fight against fires. In September, the company also answered the call for help in the village of Karavelovo near Karlovo, where again people and heavy mining equipment helped to overcome the damage from the unforgettable flood. An example of how great companies are when they employ people with big hearts.
