Neodymium is a rare earth mineral, valued for its strong magnetic characteristics. It is a key component in the production of the strongest permanent magnets commercially available today. These magnets are widely used in popular consumer devices like headphones, speakers, and computer hard drives, since Neodymium’s high magnetization allows for compact and efficient designs.

Neodymium is also used in the automotive industry for electric vehicle propulsion systems for enhanced power and efficiency, in wind turbines to generate renewable energy, in medical equipment, lasers, and even jewelry.