Billionaires Of Tomorrow Will Be Minted By Magnets

In one of The Graduate's most memorable scenes, Dustin Hoffman's teenage character, Benjamin Braddock, is given some unasked-for financial guidance: "plastics."

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If you reenact that scene now, hapless Benjamin might hear the word "magnets" instead. The modest magnet has recently evolved into an absolute necessity for a variety of contemporary sectors, including wind turbines and electric vehicles. It is a cutting-edge building piece that will lead to financial success.

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There is more to the little-known tale of how magnets came to rule the globe than exotic materials and cutting-edge science. The story increasingly revolves around geopolitics, with rising tensions among China and the United States playing a significant role.

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Lodestones, which are chunks of the mineral magnetite, were the only items with persistent magnetic qualities before the industrial revolution. Three parts iron to 4 components oxygen made up the "stones," along with a few other essential components like aluminum, titanium, and manganese, not to mention lightning.

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This astonishing process helps explain why organic magnets were prized curiosities before the modern era. When a chunk of magnetite gets struck by a bolt from the blue, the lightning's magnetic field reconfigures the ions in the rock, bestowing magnetic qualities over its surface.

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Someone discovered a different method somewhere around the Middle Ages: rub an iron needle on a lodestone, and the needle also developed magnetic properties. It's possible that this discovery, which resulted in the development of the compass, was the first practical application of a magnet, however it's important to note that some medieval physicians also thought lodestones could treat baldness and, as an added bonus, operate as an aphrodisiac.

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Scientists learned in the 18th and 19th centuries that certain metals were endowed with magnetic qualities when an electric current passed through a wire. The generated "electromagnets" were used for a variety of industrial purposes. They had limited utility because they required power to operate, which led to the hunt for more "permanent" magnets.

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The invention of steel alloys formed in a magnetic field led to the first improvements on standard iron magnets. Oersteds, a measurement unit named by the Danish scientist Hans Christian rsted, showed that these alloys possessed considerably greater magnetic power than regular lodestones. Nonetheless, it was still insufficient to serve as a dependable component in any type of electric motor.

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By leavingning common iron with aluminum, nickel, and cobalt in the 1930s, Japan, which had assumed the lead by 1918, had created a new generation of permanent magnets—hence the name Alnico magnets. These massive magnets outperformed their expectations, producing 400 oersteds as opposed to 50 for a straightforward lodestone. Then it was found that annealing such alloys in a magnetism increased their abilities much more.

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Permanent magnets that could take the place of electromagnets were now available to the world. These new magnets were immediately used in a variety of equipment in the post-World War II era, including electric motors, sensors, fuel meters, microphones, and other devices.

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Karl J. Strnat, an obscure Austrian materials expert, came to the US in 1958 to assist the Air Force in creating even more potent magnets for its cutting-edge missiles and jets. Strnat was an expert in the rare earths, a specialized group of 15 elements that are located below the core periodic table and begins with lanthanum and finish with lutetium.

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Even though they weren't very rare, rare earths were challenging to purify and process. Yet, chemists were now able to isolate individual rare earths in significant amounts because to new techniques inspired by the Manhattan Project. Strnat and his colleagues arrived to the conclusion that the elements made good candidates for a brand-new class of magnets. Sadly, once the elements approached room temperature, they began to lose their magnetic properties, which reduced their usefulness.

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But what if cobalt or another element were added to rare earths? The finding of "magneto-crystalline anisotropy in rare metals cobalt intermetallic compounds" is regarded as one of the pinnacles of contemporary materials science. Strnat and his team have figured out how to produce useful rare earth magnets.

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Strnat monuments would be located throughout Silicon Valley and other high-tech areas if the universe had any fairness. His lab and others inspired by the finding created a variety of novel rare earth magnets in just a few short years. Some of these measured at 25,000 oersteds, such as SmCo5, which is composed of one part samarium and five parts cobalt.

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In a 1970 essay, Strnat predicted that his rare earth magnets will soon be utilized in a variety of devices, including "electric wristwatches," microwave tubes, electric motors, and even "extremely huge machines." Nevertheless, he misjudged their potential.

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Further uses were made possible by the early 1980s development of much stronger rare earth "neodymium" magnets. Rare earth magnets are now widely used in electronics, weaponry, mobile devices, digital cameras, hard drives, and, last but not least, electric vehicle motors.

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However, there was an issue. It turned out to be a messy process, producing a lot of trash and toxins, to mine and purify rare earths. In China, which has some of the finest rare earth reserves in the world, production could be outsourced much more easily. After the Cold War ended, and globalization reached unprecedented heights, this wasn't a problem. The reliability of supply is now in jeopardy as a result of rising tensions with China.

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Increasing rare earth manufacturing in the US is a part of the solution. But we'll need fresh invention if we're to minimize our reliance on rare earths while still creating enough magnets to satisfy rising demand.

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In theory, it is already in motion. Tetrataenite in particular shows great potential as the base material for a new magnet for the twenty-first century in iron-nickel composites. The potential has been highlighted by recent studies. The only thing lacking is a modern-day Karl J. Strnat who would dedicate himself to the task.