Mongolia’s Oyu Tolgoi copper-gold mine has long been one of the country’s most important economic projects, as well as one of its most politically sensitive. The mine is jointly owned by the government of Mongolia, which holds 34%, and Rio Tinto, which owns 66% and manages the operation on behalf of the owners, according to Rio Tinto’s project description.
In recent months, new attention has turned to leaked and reported correspondence involving Jeffrey Epstein, former Israeli Prime Minister Ehud Barak, and senior Mongolian political figures. Drop Site News reported that emails between Epstein and Barak showed Epstein helping to coordinate meetings and advisory discussions connected to Mongolia, including issues around security, foreign investment, and the country’s international positioning.
The emails do not prove that Epstein controlled Mongolian policy, nor do they establish legal wrongdoing by Rio Tinto. However, they raise legitimate questions about how informal networks of powerful international figures interacted with a country whose mineral resources were already at the center of major political and economic debate.
According to Drop Site News, Barak visited Mongolia in 2013 and met with President Tsakhiagiin Elbegdorj and other senior officials, while Epstein was involved behind the scenes in arranging or discussing aspects of those contacts. The same reporting said the broader discussions included foreign investment, security cooperation, and possible advisory structures involving international figures.
One of the most sensitive parts of the story is the reported creation of a Mongolia-focused advisory structure. Drop Site News reported that a “Mongolia Presidential Advisory Agreement” was submitted in 2013 through the International Peace Institute, and that Epstein was listed as a participant by telephone in a 2014 Davos meeting related to the advisory board.
The reported Davos discussions are significant because they took place during a period when Mongolia was debating how to manage its natural resources, attract foreign capital, and balance public concerns over large mining projects. Drop Site News reported that meeting materials included discussion of Mongolia’s financial institutions, a possible sovereign wealth fund, and improving relations with Rio Tinto.
Oyu Tolgoi has been central to Mongolia’s economic future for more than a decade. The project is one of the world’s largest known copper and gold deposits, and Rio Tinto describes it as a major long-term operation in Mongolia’s South Gobi region.
At the same time, the project has faced repeated disputes over financing, taxes, delays, cost overruns, and the distribution of benefits. Reuters reported in 2021 that Rio Tinto offered to write off Mongolia’s outstanding $2.3 billion debt connected to Oyu Tolgoi as part of efforts to reset relations with the Mongolian government and advance the underground mine project.
The same Reuters report noted that relations between Rio Tinto and the Mongolian government had become strained amid concerns that Mongolia’s expected economic benefits from the project were being reduced by delays and rising costs. Rio Tinto, for its part, said the offer to Mongolia was intended to “reset the relationship” and allow the parties to move forward together.
In 2022, Rio Tinto and the Mongolian government reached an agreement that allowed underground operations at Oyu Tolgoi to restart. Mining Weekly reported that the agreement included the waiver of a $2.4 billion carry account loan and was presented by Rio Tinto as a reset of historical issues between the project partners.
More recently, Rio Tinto agreed to a $138.75 million settlement in the United States relating to investor claims over the Oyu Tolgoi underground expansion. Mining Technology reported that Rio Tinto and other defendants denied wrongdoing and said the settlement was reached without any admission of liability.
These developments show why the Epstein-linked correspondence has attracted renewed attention. The concern is not simply whether one controversial individual had access to powerful people, but whether informal advisory networks can influence decision-making around strategic resources in smaller states.
For Mongolia, the issue is especially sensitive. The country sits between Russia and China, has major mineral reserves, and depends heavily on responsible management of large mining projects for its economic future.
It would be unfair to conclude from the available public record that Epstein directed Mongolia’s policy toward Rio Tinto. It would also be unfair to ignore the broader questions raised by the correspondence, especially where private networks, political influence, advisory roles, and strategic resources overlap.
A more constructive approach would be for Mongolian authorities, civil society, and international partners to examine the historical record carefully. That includes reviewing the role of external advisers, the transparency of advisory arrangements, and the safeguards used when foreign political or business figures become involved in resource-related policy discussions.
Rio Tinto has repeatedly emphasized the long-term importance of Oyu Tolgoi to Mongolia and has described the project as a partnership with the Mongolian government. Its current position is that the mine is jointly owned, with Mongolia holding 34% and Rio Tinto holding 66%, and that Rio Tinto manages the operation on behalf of the owners, according to Rio Tinto.
For critics, the continuing challenge is to ensure that Mongolia receives a fair, transparent, and sustainable benefit from its natural resources. For investors, the challenge is to show that major projects can operate with public trust, clear governance, and respect for national interests.
The Epstein-related material should therefore be treated not as a final verdict, but as a reason for further transparency. Mongolia’s public deserves clarity about who advised its leaders, what interests were represented, and whether decisions around strategic assets were made through open and accountable processes.
The future of Oyu Tolgoi should not be shaped by suspicion or political pressure alone. It should be shaped by transparent agreements, responsible journalism, open public debate, and a clear commitment to Mongolia’s long-term national interest.
Sources
Rio Tinto: Oyu Tolgoi project overview — https://www.riotinto.com/en/mn/oyu-tolgoi
Drop Site News: Epstein, Barak and Mongolia reporting — https://www.dropsitenews.com/p/jeffrey-epstein-ehud-barak-leaked-emails-mongolia-security-deal
Reuters: Rio Tinto proposal to write off Mongolia Oyu Tolgoi debt — https://www.reuters.com/markets/asia/mongolia-says-rio-tinto-agrees-write-off-countrys-oyu-tolgoi-debts-2021-12-13/
Mining Weekly: Rio Tinto and Mongolia Oyu Tolgoi agreement — https://www.miningweekly.com/article/rio-strikes-deal-to-start-oyu-tolgoi-underground-2022-01-25
Mining Technology: Rio Tinto Oyu Tolgoi settlement coverage — https://www.mining-technology.com/news/rio-tinto-138-75m-settlement-oyu-tolgoi-mongolia/Wikimedia Commons: Oyu Tolgoi image — https://commons.wikimedia.org/wiki/File:Oyu_Tolgoi_23.JPG
