Prediction of the new efficient permanent magnet SmCoNiFe3

We propose a new efficient permanent magnet, SmCoNiFe3, which is a development of the well-known SmCo5 prototype. More modern neodymium magnets of the Nd-Fe-B type have an advantage over SmCo5 because of their greater maximum energy products due to their iron-rich stoichiometry. Our new magnet, however, removes most of this disadvantage of SmCo5 while preserving its superior high-temperature efficiency over the neodymium magnets. We show by means of first-principles electronic-structure calculations that SmCoNiFe3 has very favorable magnetic properties and could therefore potentially replace SmCo5 or Nd-Fe-B types in various applications.