AngloGold Ashanti

JSE-listed Pan African Resources has successfully concluded a three-year wage agreement at its flagship Barberton Mines operation.

The wage negotiations were concluded between trade unions the National Union of Mineworkers (NUM) and the United Association of South Africa (UASA), which represent the majority of employees at Barberton Mines.

The agreement provides for an average annual wage increase of approximately 6.5% and 5.5% for NUM and UASA members, respectively, over the three years.

The negotiations were successfully concluded with no industrial action or work stoppages, Pan African Resources reported.