The 200m column was brought down with 1000 explosives just after 11am.
Earlier, residents had expressed fear the chimney has not been properly assessed for asbestos.
Concerned resident Julie Renshaw said levels four to 22 of the stack were not accessible and not guaranteed to be asbestos free.
She said her main concern was the pre-school across the road from the site.
"They have been contacted by (Port Kembla Copper)," she told AAP.
"But as far as liability goes for the future ... our concern is, worse case scenario one of these children does develop a respiratory illness, there is no support for them at all."
Blog: Demise of Wollongong's smoke stack a sign of the times
However, Port Kembla Copper's Ian Wilson said there was only a very "fine patina of material adhering to the bricks".
"PKC is doing everything it can to demonstrate to everybody's satisfaction that the stack does not contain residual asbestos hazard," he told ABC Radio.
