Transceiver with annular ring of high magnetic permeability material for enhanced short hop communications

A short-hop communications system that comprises:

• a bottomhole assembly including a mud motor and a steering assembly having conductive bodies;
• first and second communications transceivers on opposite sides of the mud motor, wherein at least one of the communications transceivers includes:
• a conductive body having an annular cavity that is electromagnetically coupled to an external tool surface of the conductive body by a surface gap that encircles the conductive body;
• a ring of material in the annular cavity, wherein the ring of material is a ferrite, a mu-metal, or a metallic glass and does not consist of one or more coil windings wound around the material;
• an electronics module coupled between opposite sides of the surface gap is configured to sense a receive signal and send a transmit signal for communication with the other communications transceiver using frequency division multiplexing.