Permanent magnets today are used in a wide range of transportation, industrial, residential/commercial, consumer electronics, defense, domestic, data storage, wind energy, and medical markets and applications. There are five classes of commercial permanent magnet materials; however, magnets based on Nd-Fe-B account for over 60% of the global magnet production by value. They typically contain around 31 wt.% of rare earth elements (REEs), principally, Nd and Pr, plus Dy for higher-temperature performance. Nd-Fe-B magnets are forecast to grow throughout this decade, largely driven by the growth in electric vehicles of all types. However, several studies forecast a shortfall of the primary REEs from mined resources. In this paper, the sourcing, processing, and recycling of REEs are discussed. Additionally, presented are the advantages and disadvantages of the major recovery and recycling technologies for REEs.