Rare earth permanent magnets are known as strong magnets and divided into SmCo rare earth permanent magnets and NdFeB rare earth permanent magnets. After three generations of development, rare earth magnets are now classified as the first generation-SmCo5 rare earth magnets, the second generation-Sm2Co17 rare earth magnets and the third generation of neodymium (NdFeB) rare earth magnets. Among them, the magnetic energy product of SmCo magnet is between 15-32MGoe, and that of NdFeB magnet is between 27-52MGoe, which is called "permanent magnet king". Although SmCo permanent magnet has excellent magnetic properties, it contains rare earth metal samarium and cobalt, which are rare and expensive strategic metal cobalt. The development of China's rare earth permanent magnet industry began in the late 1960s. At that time, the leading product was SmCo permanent magnet. The sales volume of SmCo permanent magnet in the world was 630 tons, and that in China was 90.5 tons (including SmCo magnetic powder), which was mainly used in military technology.
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