Edit /etc/iscsi/targets and add the target system information

             Port Number
             | 3260 iqn.2012-02.local.cosmos:st.h1
|                 |
iscsi target host  Unique iscsi identifier

Now configure the iscsi0 device

smitty iscsi
 >iSCSI Protocol Device
  > Change / Show Characteristics of an iSCSI Protocol Device
    > iSCSI Initiator Name []
    > Discovery policy: file

Run cfgmgr against the iscsi0 device

cfgmgr -l iscsi0

After this you should see the drives exported from the iscsi target host

# lspv
hdisk0          00c0e90dce6c290a                    rootvg          active              
hdisk1          00cf405ea5c630a9                    rootvg          active              
hdisk2          00cf405ea25a9e70                    None                                
hdisk3          00cf405ea25a9f84                    None                                
hdisk4          00cf405ea5ce7f72                    None                                
hdisk5          00cf405ea5ce8085                    None