South32’s share price fell 4.3% to R27.38 on Monday morning after it said an Australian coal mine where work was halted on June 28 for safety reasons remained closed. Underground operations at its Appin mine, part of its Illawarra metallurgical coal operation, were suspended due to concerns about gas exceeding safety limits. South23 said in June that after it notified the regulator, the New South Wales department of planning and environment, it was issued with a prohibition notice. "A review of the operation’s systems and operating practices is currently being undertaken to ensure its ongoing safety and reliability. Given the scope of this review, an extended outage is now anticipated before production at Illawarra metallurgical coal can be restored to historic levels. The Dendrobium mine continues to operate," Monday’s statement said.
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