J&K Minerals Limited is a fully owned Government Company within the meaning of Section 619 of the Indian Companies Act. 1956. The Company was incorporated in 1960 as a First Public Sector Undertaking of the State. The company was initially registered with an authorised capital of Rs. 500 lacs which was subsequently raised to Rs. 800 lacs during 1964-65. The capital stands fully subscribed and paid up by the state Government.
The Principal business of the company, as per the objectives defined in its Memorandum of Association, is to exploit the mineral resources and to establish mineral based industries in the state of Jammu & Kashmir.
The affairs of the company are managed by the Board of Directors, with Managing Director as the Chief Executive of the Company, Hon'ble Minister, Industries & Commerce and Hon'ble Minister of State, Industries & Connerce, J&K State are the Chairman and Vice Chairman of the Board of Directors. Principal Secretary to Government Planning & Development Department, Commissioner/ Secretary to Government Finance Department, Commissioner/ Secretary to Government Industries & Commerce Department, Director Geology & Mining Deptt. and Additional Secretary to Government Industries & Commerce Department are Directors of the Board.