The club was established in 1972 by the bauxite extraction industry company, Boksit, which is a major employer in the town.

In the early 1990s business Rajko Dukić invested in sports development in Milići and local teams became champions of Republika Srpska in football, chess, bowling and woman handball.

[citation needed] FK Boksit Milići became champions of the first edition of the First League of Republika Srpska, more precisely, of the 1995–96 season.

Players such as Dejan Pantelić, Dejan Dragičević, Zoran Majstorović, Milanko Đerić, Aleksandar Škrba, Dejan Pantelić, Ranko Zarić, Goran Simić, Dragiša Krajšumović, Aleksandar Obrenović, Goran Đurić, Aleksandar Samurović, Milenko Vukotic and Goran Sarić marked this period.

Later, the club lost the support from the company and was relegated to lower leagues, ending by changing the name to FK Milići.