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A **neodymium magnet** (also known as NdFeB, NIB, or Neo magnet) is a **permanent magnet** made from an alloy of **neodymium**, **iron**, and **boron**. It forms the **Nd₂Fe₁₄B** tetragonal crystalline structure. These magnets are the **most widely used type of rare-earth magnet**. They are exceptionally strong and have replaced other types of magnets in various applications, including electric motors, hard disk drives.