It is a one-year agreement and follows on from the previous two year wage agreement that concluded on 30 June 2017, the company said in a statement.
The deal is in addition to the three-year wage agreement with the United Association of South Africa, the other union that represents workers at Barberton Mines.
Pan African said the average wage increase for all Barberton Mines employees will amount to around 8% a year, effective from 1 July 2017.
Barberton Mines experienced a 2.5 day stoppage during the negotiation period, but the stoppage is not expected to affect the group’s production guidance of 190,000 ounces for the financial year ending 30 June 2018.
Shares in Pan African were up 0.3% at 13.54p in mid-morning trade.