I think it went OK. I did the first section, the one about mining. The 12 marker was a bit difficult but I think I managed it alright - I talked about how the inelasticity would increase the monopoly power as it allows for supernormal profits (explained with the help of a diagram) and how the location acts as a barrier to entry which is how China exploit their monopoly position
For the 25 marker I argued that it should be left to the market because the market induces competition and therefore lower prices and improved productive efficiency. Also mentioned how the market ensures allocative efficiency and then talked about how the presence of a monopoly would distort these efficiencies to get some marks for evaluation
For the counter argument I argued that the government should intervene due to the negative externalities in production of rare-earth metals and modelled it on an externalities diagram. Went on to talk about overproduction and market failure and then mentioned how the extent of the market failure is dependent on the previous government intervention through regulations to get some more marks for evaluation