What are neodymium magnets made from and how are they made?

Neodymium magnets are actually composed of neodymium, iron and boron (they are also referred to as NIB or NdFeB magnets).  The powdered mixture is pressed under great pressure into molds.  The material is then sintered (heated under a vacuum), cooled, and then ground or sliced into the desired shape.  Coatings are then applied if required.  Finally, the blank magnets are magnetized by exposing them to a very powerful magnetic field in excess of 30 KOe.