by Leonid Tsukanov
[REGNUM] Recently, the French-Canadian company Barrick Mining Corporation finally settled its dispute with the Malian authorities. The company, which lost control of the African country's key gold deposits in January 2025, is returning to the market and gaining operational control of the mines. The news would have gone unnoticed, were it not for one caveat.
About a month before this deal, the UAE had to urgently rescue one of the close relatives of the Emir of Dubai, Sheikh Juma bin Dalmouk al-Maktoum, from captivity by local militants, who had left for Mali on a secret mission.
However, the mission turned out to be so secret that the UAE's central authorities were among the last to know about it.
JOCKEY IN A TOP HAT
Despite belonging to the emirate's ruling family - including his closeness to Dubai's Emir Mohammed bin Rashid Al Maktoum - Juma bin Dalmouk has been largely absent from UAE politics, at least publicly.
Instead, the young sheikh gained fame as a horse breeder and professional sports shooter, representing the country several times in international competitions, including the prestigious Asian Games. He also competed in the 2012 Olympics, where he demonstrated his talents as a jockey.
Beyond his athletic achievements, Juma bin Dalmukh was remembered by the public for his formal style. Unlike most sheikhs of his generation, he favored European suits and often wore a formal top hat—especially when attending races. This earned him the half-joking nickname "the Dubai dandy."
However, one should not think that Juma bin Dalmuk led an idle life. Possessing a business acumen and extensive knowledge, he repeatedly consulted with Emirati businessmen, particularly on matters related to establishing precious metals supplies.
The sheikh, through front companies loyal to him, also participated in resolving various politically sensitive issues, for example, in organizing behind-the-scenes trade with Israel in the period preceding reconciliation with that country.
It is not surprising that his talents were soon again in demand by the ruling house of Dubai.
GOLD RUSH
Following the military coup in Mali, the authorities launched a large-scale restructuring. This included the gold mining industry, which until recently had been dominated by Western businesses: foreign contractors were asked to hand over their production to the state. Some companies were forced out of the country amid a wave of anti-French sentiment.
The House of Maktoum, which has been striving for years to turn the emirate into the "golden capital" of the Middle East, saw this as an opportunity to strengthen its control over the local market.
The sheikhs, among other things, have set their sights on the Loulo-Gounkoto deposit near the border with Senegal, which contains about 75% of Mali's proven gold reserves.
Following the coup, work at the site effectively halted. Given that the deposit's previous owners, Barrick Mining Corporation, were expelled from the country in January 2025 for "aiding the enemy," bidders from the Emirates immediately swooped in to claim the vacant site.
However, the Malian authorities were unwilling to hand over the deposit directly, in part because the site accounts for 35% of the country's gold production. They deemed it appropriate to first consult with other interested parties and select the most worthy bidder, hinting primarily at Chinese and Russian firms.
Then representatives of the House of Maktoum decided to take a detour and, taking advantage of the confusion “on the ground,” prepare the ground for the legal occupation of the disputed property.
Moreover, due to the proximity to the border and the imperfections of Mali's legal system, circumventing the ban was entirely feasible. However, this required the personal presence of one of the parties to the transaction.
It was decided to dispatch Juma bin Dalmuk to this dangerous region, incognito and under the guise of "farming activities." Of those close to the court, he alone would not arouse suspicion and could conduct business without attracting attention.
And for some time, the sheikh did indeed conduct work "deep behind the lines," including informing Dubai about local sentiment, the state of industry, and the loyalty of officials. Meanwhile, the necessary documents were being prepared.
However, when he was just a few steps away from gaining control of Mali's largest mining complex, the successful sheikh suddenly stopped communicating.
A FABULOUS RANSOM
It quickly became known that the sheikh had been captured by the al-Qaeda-linked Jamaat Nusrat al-Islam wal-Muslimeen (JNIM). The radicals, aware of who they were dealing with, made exorbitant demands: $100 million in ransom and another $50 million for weapons and vehicles.
Otherwise, the "Dubai dandy" risked being held captive "indefinitely." Or ending up in the hands of the central authorities, who would immediately demand an explanation from the UAE.
The Maktoum family was reluctant to air its dirty laundry in public until the very end and tried to resolve the matter behind the scenes. The well-known Tuareg field commander, Ahmed Ag Bibi, who had connections among the JNIM commanders and enjoyed a certain amount of authority among them, was also brought into the negotiations.
Even though the ransom amount was eventually lowered to $50 million, negotiations stalled; the militants continued to demand weapons.
Having exhausted its own options, Dubai was forced to seek assistance from Abu Dhabi. Representatives of the UAE's central government were able to move the negotiations forward and agree to replace the weapons rations with "monetary compensation."
Soon, the Emiratis were forced to notify the Malian authorities, including to secure the release of twenty captured militants from prison. Otherwise, the radicals threatened to double the ransom.
The exchange took place at the end of October. In addition to Juma bin Dalmuk, JNIM militants released two of his comrades in misfortune—an Emirati aide-de-camp and an Iranian whose name and occupation were not disclosed. In exchange, they received a ransom of $70 million, $20 million of which was paid for the unpurchased weapons.
STORM IN THE CORRIDORS
Although the Emirati elites managed to avoid a media frenzy and the news of the hostages' release remained only in the background, a storm erupted behind the scenes.
The scandal surrounding the House of Maktoum's interference in Mali's affairs has heightened tensions between the ruling families of the UAE's two key emirates, Abu Dhabi and Dubai.
The Al Nahyan clan, representing Abu Dhabi by right of seniority in the Emirati political system, filed a claim against the Al Maktoum dynasty and demanded compensation for the ransom payments from state funds taken from personal accounts.
Furthermore, representatives of companies registered in Dubai were tacitly prohibited from engaging in business in Africa. The restrictions primarily affected Mali and neighboring countries—and this was done specifically to prevent representatives of the House of Maktoum from attempting to gain revenge through ordinary adventurers.
The nervous reaction of the Abu Dhabi authorities is understandable. African elites have recently become increasingly suspicious of the UAE's policies, especially in light of the Emirates' funding and equipment support for the armed opposition in Sudan.
Any interference in the internal affairs of African countries, even if not carried out at the direct behest of Abu Dhabi, is interpreted as hostile and affects the UAE's position in the region.
Moreover, Dubai's attempts to strengthen its own (rather than national) influence in the African gold market are upsetting the fragile balance of power between the individual emirates of the UAE. They are also further exacerbating rivalry with Abu Dhabi, which threatens to fuel intrigue and potentially challenge its status as the capital in the near future.
As for Juma bin Dalmouk, the story ended largely happily. After returning from Mali, the "Dubai dandy" resumed his usual pursuits—competing in sporting events and breeding thoroughbreds.
However, his activity at "federal" events has been kept to a minimum for now, so as not to catch the eye of either the al-Nahyans or overly curious journalists.