In 1971 CRA and New Broken Hill Consolidated Ltd agreed to form a new company to hold their lead, zinc and silver interests. The name of the new company - Australian Mining and Smelting Ltd. - was transferred from an existing and wholly owned CRA subsidiary. The old AM&S consequently changed its name to Dawk Ltd. On merger, the sharehold in NBHC Holdings owned 42.5% of the new AM&S and CRA held 57.5%. AM&S owned 100% of the Zinc Corporation and NBHC mines in Broken Hill, The Sulphide Corporation Ltd, Southern Power Corporation, Herons Creek Timber Mills. It also owned 50% of Broken Hill Associated Smelters and 78.43% of the Group's exploration program. It became public in 1973.

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