There are seventeen rare earth elements– fifteen of which are lanthanides and two of which are transition metals, yttrium and scandium, that are found with lanthanides and are chemically similar. In general, rare earth elements were given their name for two different, yet significant reasons.
The term rare earth magnet is a generic name used to describe two types of magnetic material: samarium cobalt and neodymium iron boron. Both of these magnetic alloys utilize rare earth elements as the magnetic constituents and the characteristics offered by both material types lend themselves to specific applications.
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