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Ferrofluid on glass, with a rare-earth magnet underneath. A rare-earth magnet is a strong permanent magnet made from alloys of rare-earth elements.Developed in the 1970s and 1980s, rare-earth magnets are the strongest type of permanent magnets made, producing significantly stronger magnetic fields than other types such as ferrite or alnico magnets.
As of 2012, 50,000 tons of neodymium magnets are produced officially each year in China, and 80,000 tons in a "company-by-company" build-up done in 2013. [29] China produces more than 95% of rare earth elements and produces about 76% of the world's total rare-earth magnets, as well as most of the world's neodymium. [30] [9]
A samarium–cobalt (SmCo) magnet, a type of rare-earth magnet, is a strong permanent magnet made of two basic elements: samarium and cobalt. They were developed in the early 1960s based on work done by Karl Strnat at Wright-Patterson Air Force Base and Alden Ray at the University of Dayton.
Neodymium is a fairly common element in the Earth's crust for being a rare-earth metal. Most rare-earth metals are less abundant. Neodymium is classified as a lithophile under the Goldschmidt classification, meaning that it is generally found combined with oxygen. Although it belongs to the rare-earth metals, neodymium is not rare at all.
On May 24, 2024, the Biden Administration announced a 25 percent tariff on rare earth magnets from China, set to take effect in 2026. This marks the first time that critical minerals, including rare earth magnets, have been specifically included in the tariffs. [53] Following the tariffs MP Materials put out a statement listing the tariffs.
Permanent magnets are made from hard ferromagnetic materials (such as alnico) and ferrimagnetic materials (such as ferrite) that are subjected to special processing in a strong magnetic field during manufacturing to align their internal microcrystalline structure, making them difficult to demagnetize. To demagnetize a saturated magnet, a ...
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