South African gold miner Pan African Resources (LON:PAF) has agreed a wage settlement for the next three years from with the unions at its two mines, Evander and Barberton.
At Barberton Mines, Pan African has agreed a two-year agreement with the National Union of Mineworkers (NUM) and the United Association of South Africa (UASA) for a 9% average rise in the years ending June 2016 and 2017.
At Evander, Pan African has agreed a three year deal with the NUM and UASA on wages and other conditions of employment.
Average salaries at the mine will rise by 7.8% in the three years to 2016, 2017 and 2018.
Cobus Loots, Pan African’s chief executive, said: "We are pleased that multi-year wage agreements are now in place at our gold mining operations.
These agreements provide certainty to all Pan African Resources stakeholders and enable our employees to focus on delivering on our production targets."