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The company said at a conference that production volumes from the longwalls had not been impacted to date because of COVID-19 restrictions.
"Production and sales volumes from Australian operations largely unaffected to date by COVID-19 restrictions or measures," it said.
"With continued strong longwall performance we have commenced a review to optimise production, sustaining capital and operating costs to maximise long-term value."
Illawarra Metallurgical Coal's FY2020 operating unit cost guidance remains largely unchanged at US$92 per tonne compared to previously $93/t for FY2019.
Weaker Australian dollar and lower price-linked royalties will be partially offset by additional mining costs.
South32 restarted the three longwall configuration in April.