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PROBLEM TO BE SOLVED : To efficiently recycle sludge and to produce a permanent magnet at a low cost using the sludge generated by grinding as a magnet manufacturing material.
SOLUTION : The system is provided with a step for recovering slurry including the sludge generated by grinding the sintered magnet and a step for obtaining a molding by forming the sludge in a wet condition based on the slurry in a magnetic field. The sintered magnet can be obtained by melting and immersing a R rich alloy that is richer in the amount of R than that of the sludge in the molding if the sintered magnet is a R-TM-B series sintered magnet (R is one kind or two kinds of the rare-earth elements, and TM is Fe, or Fe and Co). In addition, the sintered magnet can be obtained by sintering the molding obtained after a mixture with the R rich alloy powder that is richer in the amount of R than that of the sludge is formed in the magnetic field.