Magnet
Many materials have unpaired electron spins, and the majority of these materials are paramagnetic. When the spins interact with each other in such a way that the spins align spontaneously, the materials are called ferromagnetic (what is often loosely termed as magnetic). Because of the way their regular crystalline atomic structure causes their spins to interact, some metals are ferromagnetic when found in their natural states, as ores. These include iron ore (magnetite or lodestone), cobalt and nickel, as well as the rare earth metals gadolinium and dysprosium (when at a very low temperature). Such naturally occurring ferromagnets were used in the first experiments with magnetism. Technology has since expanded the availability of magnetic materials to include various man-made products, all based, however, on naturally magnetic elements.
Rare-earth magnet
The rare-earth (lanthanide) elements are metals that are ferromagnetic, meaning that like iron they can be magnetized to become permanent magnets, but their Curie temperatures (the temperature above which their ferromagnetism disappears) are below room temperature, so in pure form their magnetism only appears at low temperatures. However, they form compounds with the transition metals such as iron, nickel, and cobalt, and some of these compounds have Curie temperatures well above room temperature. Rare-earth magnets are made from these compounds.