Magnetic alloy of the RE2TM14B type and a method of making magnetic alloys

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A magnetic alloy comprises (in atomic %) : 11.8-15.0 % rare earth metals, 77.0-82.0 % transition metals, 5.3-9.0 % boron and up to 2.0 % of titanium, zirconium, hafnium or a mixture thereof. A claimed alloy comprises (in atomic %) : about 13.0 % neodymium, about 77.5 % iron, about 8.6 % boron and about 1.0 % zirconium. Also a method of making a rare earth-iron-boron alloy where at least one Group IVB transition metal (Ti, Zr, Hf) is added during melting and casting of the alloy.