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The slip was witnessed by a Canyon Swing employee on Wednesday morning.
It caused Go Orange to suspend its rafting operations on the Shotover River until further notice, but had no impact on Canyon Swing operations.
Go Orange general manager Luke Taylor said its rafting trips passed directly underneath the slip site and it did not want to put customers or staff through the area when there was instability.
A Department of Conservation spokesman said the slip was part of an old landslip alongside the Shotover Canyon.
The Moonlight Track, which runs through Ben Lomond Station, was closed as a precaution until the site could be assessed - the initial assessment was done yesterday. The department would look to reopen the track "in the coming days".