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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.
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.
Of the more commonly available magnets, only rare-earth magnets such as neodymium and samarium-cobalt are stronger. Alnico magnets produce magnetic field strength at their poles as high as 1500 gauss (0.15 tesla ), or about 3000 times the strength of Earth's magnetic field .
“MagNex can be produced at 20 percent of the material cost and a 70 percent reduction in material carbon emissions (kg CO2/kg), compared to rare earth element magnets currently on the market.”
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The relatively low rare earth content (12% by volume, 26.7% by mass) and the relative abundance of neodymium and iron compared with samarium and cobalt makes neodymium magnets lower in price than the other major rare-earth magnet family, samarium–cobalt magnets. [3]