Kogi said today that Mr Tan would manage and implement the development of the Agbaja iron ore project in Nigeria.
Mr Tan will be paid a fixed salary of $450,000 per year, plus superannuation and a $40,000 per year motor vehicle allowance.
Kogi chairman Ian Burston said Mr Tan’s skills would complement the existing board of directors and his enthusiasm and experience would be a welcome addition to the team.
A pipeline rupture at Galaxy’s Jiangsu processing plant in China resulted in a hit to revenue, caused largely by China’s East China Mineral Exploration and Development Bureau pulling a proposed $65 million funding commitment.
In early August Galaxy was forced to kick off a shortfall placement after the entitlement offer fell significantly short of its $47 million target, securing $14.86 million from investors.
Galaxy extended the shortfall offer earlier this month, which will now close on August 28.
Galaxy said in late July it had bank debts of around $113 million.
At close of trade today, Kogi Iron shares were steady at 9.5 cents, having been lightly traded.