A review is given on the basic properties of 2:14:1 hard magnetic phases as well as technological procedures used for manufacturing R-Fe-B and R-Fe-C permanent magnets. First, we analyse the phase diagrams, crystal structure of hard magnetic phases and composition ranges in which these phases form solid solutions, as a result of various types of substitution. Then, the magnetic properties of R 2 Fe 14 B-, R 2 Fe 14 C-and R 2 Co 14 Bbased compounds are described. The routes used for manufacturing R-Fe-B and R-Fe-C permanent magnets are detailed. The magnets' microstructure as well as their coercivities are described in correlation with composition and manufacturing routes. The properties of nanostructure magnets are then presented. Finally, the stability of Nd-Fe-B and Nd-Fe-C magnets in various working conditions is analysed.