The three-year agreement provides for increases on basic wages and allowances of 13.0% for entry level underground employees in year one, 11.6% in year two and 10.5% in year three.
Supervisory employees will receive a basic increase of 7.5% per year for each of the three years.
Northam chief executive Paul Dunne said: "This is a good outcome for both employees and the company as it provides certainty and allows all stakeholders to focus on the sustainability of the business going forward. We also recognise the mature and constructive manner in which engagement has been undertaken."
