Method of producing high performance permanent magnets

A method of producing high performance permanent magnets characterized by an absence of cobalt, said method comprising the steps of

• (a) forming milled particles of a master alloy consisting of Fe.sub.2 B by melting and casting the master alloy and crushing and milling the cast master alloy to a particle size no larger than about 50 microns,
• (b) admixing the master alloy particles with Fe powder and particles of a rare earth capable of combining with the Fe and B to form a tetragonal compound of Fe.sub.14 R.sub.2 B,
• (c) compacting the admixture into a predetermined size and shape,
• (d) forming a magnetic material of the Fe.sub.2 B, Fe powder and rare earth which includes a major phase of at least one intermetallic compound consisting of Fe-R-B and having a tetrogonal crystal structure while controlling the particle size of the crystal structure and imparting magnetic characteristics thereto by sintering the compacted admixture at a temperature within the range of about 700.degree. C. to about 1000.degree. C. for a time period within the range of about a fraction of 1 hour to 36 hours to produce a permanent magnet with high coercivity, and
• (e) heat treating the magnetic material at a temperature of about 550.degree. to 650.degree. C. for about a fraction of an hour to two hours to enhance the magnetic characteristics thereof.