A permanent magnet operable above about 125 C to about 200 C has a major phase represented by MRE.sub.2(Fe, Co).sub.14B wherein said MRE comprises two or more rare earth elements selected from the group consisting of La, Ce, Pr, Nd, Sm, Eu, Gd, Tb, Dy, Ho, Er, Tm, Yb, Lu, and Y wherein one of the rare earth elements is chosen from one or more of La, Ce, Pr, Nd, Eu, and Gd but in an amount not exceeding 45 atomic % of the magnet and wherein at least 50% atomic % of MRE comprises Y and at least one of Dy, Ho, and Tb. The total content of the at least one of Dy, Ho, and Tb is in the range of 0 to 4 weight % of the total mass of the magnet.
CONTRACTUAL ORIGIN OF THE INVENTION
 The United States Government has rights in this invention pursuant to Contract No. W-7405-ENG-82 between the U.S. Department of Energy and Iowa State University, Ames, Iowa, which contract grants to Iowa State University Research Foundation, Inc. the right to apply for this patent.