|There are two types of rare earth magnets available: Neodymium and Samarium Cobalt.
They are called rare earth because their composition elements found in the 'Rare Earth' or Lanthanides portion of the Periodic Table of Elements.
Neodymium magnets (Nd-Fe-B) are composed of neodymium, iron, boron and a few transition metals. Samarium cobalt magnets (SmCo) are composed of samarium, cobalt and iron. These rare earth magnets are extremely strong for their small size, metallic in appearance and found in simple shapes such as rings, blocks and discs.
Due to their tremendously high energy level, Rare Earth magnet material is ideal for miniaturized applications. They offer high resistance to demagnetization and are recommended for applications with temperature ranges under 200oF. Raw Rare Earth magnets have a dull metallic appearance and tend to be very brittle. They can be ground, but caution must be exercised not to crush the material. Be aware of possible fire from the dust particles produced from grinding or cutting Rare Earth magnet materials.