Serious concerns have emerged regarding the establishment and registration of GuySure Aggregate and Sand Inc, a foreign subsidiary of Suriname’s state-owned mining company Grassalco. Official documents from Guyana reveal that five private individuals were registered as shareholders during the incorporation process, raising fundamental questions about the ownership structure and the legitimacy of this overseas venture.
Internal investigations within Grassalco have uncovered irregularities in the documentation process surrounding GuySure’s formation. The audit revealed that certain critical documents were scanned and added to the internal system at a later date, without appearing in the regular document flow initially. Administrative deviations from standard procedures were also identified.
The subsidiary’s launch in May 2025 was publicly promoted by the Surinamese government as Grassalco’s strategic international expansion. Former President Chan Santokhi traveled to Georgetown to inaugurate the company alongside now-suspended CEO Wesley Rozenhout. At the time, no mention was made of individual shareholders in the corporate structure.
The Guyanese registration records now identify five individuals as shareholders: Wesley Rozenhout, Patrick Bel, Wendy Aminta, Ajay Surjbalising, and Negesty Winter. The relationship between these private shareholders and Grassalco’s status as a state-owned enterprise remains unclear, with no transparency regarding underlying agreements.
These developments occur amidst broader turmoil at Grassalco. Earlier this month, Rozenhout was suspended by the Board of Commissioners pending an investigation into the disappearance of over four kilograms of gold from the state company. The board cited potential violations of corporate statutes as justification for the suspension.
In response to the growing crisis, Natascha Kalo has been appointed as delegated commissioner with expanded oversight responsibilities until new leadership is established. The company is currently undergoing a comprehensive ‘quickscan’ assessment while daily operations continue under heightened supervision.