Core Points - The article discusses the leaked draft of the third revision of the Mineral Development Agreement (MDA) between ArcelorMittal (AML) and the Liberian government, highlighting AML's efforts to secure near-total control over the Yekepa-Buchanan railway and Buchanan port [1] - The leaked MDA includes a "supremacy clause" that prioritizes the agreement over any conflicting current or future Liberian laws, which could significantly undermine national sovereignty [1] - Despite AML's claims that the new MDA is not intended to grant monopoly status, the revised MDA is projected to generate over $100 million annually for the government [1] - The MDA redefines AML's concession area as a "single production zone" with a single continuous mining license, granting AML control over transportation of ore and related logistics [1] - The concession could be extended for an additional 25 years or more, with a minimal annual fixed mining license fee of $500,000 [1] - AML has historically acted as its own auditor and production reporter, leading to low transparency regarding its contributions to Liberia, while Liberia's stake in the company has decreased from 30% to 15% without clear explanation [1] - The sovereignty of Liberia may hinge on the ability of the National Mining Cooperation Committee (IMCC) to resist the influence of a global mining giant that has navigated through three government changes over nearly two decades [1]