He talk about Nd2Fe14B. I thought about it too, guess it is something like:
64x Dirt -> Tiny pile of neodymium dust
4x Tiny pile of neodymium dust -> Neodymium dust
Neodymium dust + 14x Iron Dust + Boron Dust -> 16x Neodymium magnet
However I'm not sure what crafting process to choose, and there is also Boron.
Boron could be extracted from water deposits in deserts or close to volcanos (high concentration of acids/minerals).
A special "Water Boiler", that produces different stuff depending on which biome it is (Since water has different composition depending where it is).
Deserts/Volcano biomes [Hell/Redrock] would produce borax (Na2B4O7to be further electrolyzed into elemental boron, sodium and oxygen)
Oceans would produce Salt (NaCl , to be either further electrolyzed into elemental sodium and chloride or used into molten salt stuff)