The world's third-largest platinum producer, Lonmin, has cut its full-year sales target to 775 000 ounces from 860 000 previously, following power problems, it said on Wednesday.

The target took into account "current constraints in relation to electricity supply".

The company, however, warned that "any deterioration of the current power supply situation or any further significant safety stoppages are risks to this target."

In its production report for the three months and six months to 31 March 2008, Lonmin said metallurgical production for the second quarter was 128 124 ounces of platinum and 257 816 ounces of total platinum group metals (PGMs), with sales of 143 351 ounces of platinum and 282 659 ounces of PGMs.

Sapa