Reduction-melting process to form rare earth-transition metal alloys and the alloys

A reduction-melting process to form rare earth alloy compositions used in permanent magnets comprising the steps of:

• adding to a molten slag halide flux containing a reducing agent at least one rare earth oxide, at least one transition metal compound and a boron containing-compound to be reduced;
• placing a non-consumable electrode in contact with the electroslag halide flux;
• passing a current through said electrode into the molten flux to reduce the rare earth oxide, the transition metal compound and the boron containing-compound while forming oxide byproducts in the slag;
• collecting a rare earth-transition metal-boron reduced compound droplets falling through the slag;
• forming a refined ingot of said rare earth-transition metal-boron reduced droplets in a cooled crucible;
• and
• solidifying the slag containing oxide byproducts.