Neodymium Iron Boron (NdFeB) magnet has high remanence, high coercive force, high energy product and high performance/cost ratio. It is easily formed into various sizes, widely used in motor, sensor, meter, sound device, magnetic separator, automobile, aviation, aerospace and other applications. It is prone to corrosion in humid environment.

Neodymium is never found in nature as a free element, but rather it occurs in ores such as monazite and bastnäsite that contain small amounts of all the rare-earth metals. The main mining areas are in China, the United States, Brazil, India, Sri Lanka, and Australia.

Neodymium is one of the rare chemicals, that can be found in house in equipment such as color televisions, fluorescent lamps, energy-saving lamps and glasses. All rare chemicals have comparable properties.