Platinum might gain new status as a Reserve Bank "reserve asset" as part of a master plan to save jobs in mining. Attempts will be made to get the other four countries in the Brics group of nations also to adopt platinum as an asset.The plan has been crafted by mining companies, the government and trade unions in recent weeks and is expected to be signed by the various parties on Monday.According to a draft agreement, platinum would be promoted as part of the country's strategic reserves - as gold and foreign currencies already are.In the draft document the parties say they will strive to delay retrenchments, will sell distressed mining assets instead of closing them and look at ways to streamline the legal process employers must follow to cut jobs.The mining industry, which contributes about 7% to the economy, is struggling with sinking commodity prices, rising costs and labour unrest, forcing a number of companies to close mines and retrench workers.The agreement lays out 10 wide interventions, including getting Brazil, Russia, India, China and South Africa to hold "platinum as a reserve asset" in their central banks.South Africa has close to 80% of the world's known reserves of platinum, which is mainly used in emissions-capping catalytic converters, for which there is depressed demand.Platinum's spot price is pinned near five-and-a-half-year lows below $1000 an ounce.The gravity of the situation faced by the mining sector was outlined on August 5 - when the meetings over the jobs crisis began - by Roger Baxter, head of the Chamber of Mines. He said more than 50% of the country's mines were currently operating at a loss, according to minutes seen by Reuters.In an apparent compromise to the industry, the parties have agreed to look at streamlining the legal process for retrenchments.Mining companies, including Glencore, Kumba Iron Ore, Sibanye Gold and Lonmin, have said they will be forced to retrench, but have faced pressure from unions and the government to maintain jobs.The unemployment rate is about 25% and data on Tuesday showed the economy had contracted in the second quarter. ..