Rare Closed
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Rare Earth Magnets: Almost As Essential As Water
There is little that is uncommon about rare earth magnets. In fact, they are as common as lead or tin. These magnets corrode, chip and break easily, so they usually are coated or plated for protection. Nickel, gold, zinc, epoxy resin coating and tin plating processes are used to protect these magnets from corrosion. Rare earth elements like lanthanide, can be magnetized, but only when they register below room temperature.
There are two types of rare earth magnets: neodymium and samarium-cobalt. Neodymium magnets, which have the strongest magnetic field, are used in audio speakers, children's toys, LCD TVs, medical imaging equipment, self-powered flashlights, cordless tools, aircraft, defense weapons and tools and the hard drives of computers. Since neodymium magnets were invented in the 1980s, they have become less and less expensive. Samarium-cobalt magnets, developed in the 1970s, have a weaker magnetic strength.
The strength of rare earth magnets should not be underestimated. When they are larger than a few centimeters, they can cause injury by pinching body parts between two magnets or being strong enough to break bones. If the magnets are too close, they can start to chip and the flying pieces can cause injury, too. Some of the typical demagnetizing effects also apply. Magnets with intense magnetic fields can erase computer hard drives or destroy credit cards and identification cards.
In one of the most recent (2010) discoveries about magnets, materials physicists in Twin Cities, Minnesota discovered a material that is 18 percent more magnetic than the limit. The potential for this new material could allow computer manufacturers to create computers that can hold much more memory.
Rare earth magnets are also used in hybrid and electric cars, which are becoming an unstoppable trend - especially with the rising price of gas. Electric cars typically have about 10 pounds of rare earth material. The world demand for magnets is at about 50,000 to 55,000 tons per year. China currently owns the largest share of rare earths, a whopping 97 percent. Japan and some of its corporate partners in the U.S. have started to level the playing field by recycling magnets from old appliances and try to get rare earths from uranium.
Rare earth magnets have proved to be vital for clean energy sources and are becoming a lucrative lead for investing, although most mining companies are not publicly traded. They are equally as important for the current U.S. defense program, as many weapons rely on rare earths to work properly. In fact, the preservation of the rare earths industry has become a matter of national security. There is a strong cooperative interest in making sure the mines are in steady supply of these resources. Our world without them is just not as secure.
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