Neodynium accounts for approximately 33% of total rare earth element demand
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What are Neodynium magnets? | Credit: Brian D. Colwell
Neodymium is a rare earth element with atomic number 60 and atomic weight 144.24, classified as a lanthanide in the periodic table. It is a soft, ductile, and malleable metal that must be extracted from mineral ores through complex chemical processing, as it does not occur naturally in pure metallic form.
Neodymium's commercial significance stems from its unique magnetic properties when combined with iron and boron to create neodymium-iron-boron (NdFeB) magnets, the strongest commercially available permanent magnets.
It is the most commercially relevant rare earth metal, accounting for approximately 33% of total rare earth element demand.
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