It also reiterated its sales target of 700,000 ounces of platinum for the fiscal year, despite a smelter problem. On March 30, Lonmin shut its No.1 furnace after another incident at the troublesome smelter, but Lonmin said on Monday repairs were already completed. Refined platinum sales for the half fell 8.3 percent to 291,921 ounces, below a consensus forecast of 300,000 ounces. Lonmin also said it would stabilise black-owned mining firm Incwala by issuing up to 9.65 million shares, around 5 percent of its share capital, to raise funds so it could provide 206 million pounds ($318.6 million) in vendor financing. Lonmin helped set up Incwala in 2004 under South Africa's black empowerment programme that seeks to involve more blacks in the mainstream economy and guaranteed loans to shareholders, who ran into difficulties. Those shareholders will sell their stakes to Shanduka, headed by leading businessman Cyril Ramaphosa, who has a good track record in the resources sector, said Lonmin.