What are rare earth magnets?

The term ‘rare earth’ can be misleading as rare earth metals are relatively abundant in the Earth’s crust. However, they are rarely found in large, concentrated deposits, but dispersed among other elements instead. Rare earth magnets are the strongest permanent magnets available and have significantly higher performance than ferrite (ceramic) and alnico magnets.

There are two types of rare earth magnet materials – Neodymium (Nd-Fe-B) and Samarium Cobalt (SmCo).Both materials come in different grades (strengths) and have different magnetic and physical properties.

Pensana Rare Earths plc (LON:PRE) explores and mines neodymium, praseodymium, and rare earth minerals. The company is looking to establish the world’s first fully sustainable magnet metal rare earth oxide producer at the Saltend Chemicals Park in the Humber Local Enterprise Partnership Yorkshire, UK.

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