The Association was established on August 24, 1990 in Banská Bystrica as Industry unit 01 – Metallurgy, magnesite and ore industry within the Industry Union of the Slovak Republic. The activities of the Association follow in the footsteps of the traditions of the Industrialists and Entrepreneurs of the Slovak Republic that was established in 1921 and was a member of an international organization of employers.

Doc. Ing. Július Tóth, CSc., was elected as the first President for the period of two years. Later, he was replaced by Ing. Karol Danys. The other presidents were Ing. Jozef Pittner, Ing. Peter Hrinko, and RNDr. Ján Smerek. In 1999, Ing. Jozef Pittner again assumed the office of President of the Association. In 2003, Ing. Anton Jura, MBA was elected President. In 2007, he was replaced by RNDr. Miroslav Kiraľvarga, MBA. In 2011, Ing. Vladimír Jacko, PhD., MBA was elected as  President.

Doc. Ing. Vladimír Mišút, CSc., was the General Secretary of the Association between 1990 and 1999. He was replaced by Ing. Bartolomej Pető. JUDr. Ing. Ján Hijj, PhD., was in the position between 2002 and 2007. In 2007, Ing. Ervín Kubran assumed the position of General Secretary.