REDUCED CRITICAL RARE EARTH HIGH TEMPERATURE MAGNET

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A permanent magnetic composition comprising the formula : [in-line-formulae](LaxMyNd1-x-y)rFevM′zCo14-v-zBw  (1)[/in-line-formulae] wherein 0.1≤x<1, 11≤v≤14, 0≤y≤0.3, 0≤z≤0.5, 1.9≤r≤3, 0.1≤(x+y)<1, 11≤(v+z)≤14, and 1.0≤w≤1.1, wherein M represents one or more lanthanide elements other than La and Nd, and M′ represents one or more transition metal elements other than Fe and Co, or M′ represents one or more main group elements other than B; or the permanent magnet may be more particularly described by the formula (LaxNd1-x)rFevCo14-vBw or LaNdFe12Co2B, wherein x, v, and w are defined above. Also described herein are methods for producing the permanent magnet.