The magnetic and metallurgical characteristics of Mischmetal(MM) -Ferroboron (FeB) Permanent magnets have been investigated by X-ray diffractometer, scanning and transmission electron microscope and vibrating sample magnetometer under hot-pressing and die-upsetting process. The best magnetic properties obtained in these studies were $H_c$=5.8 kOe, $B_r$=5.0 kG with $(BH)_{max}=7.6 MGOe for melt-spun ribbons, $H_c$=3.0 kOe, $B_r$=4.6 kG with $(BH)_{max}$=2.9 MGOe for hot-pressed magnets and $H_c$=1.8 kOe, $B_r$=5.5 kG with $(BH)_{max}$=4.1 MGOe for die-upset magnets. The higher magnetic properties in die-upset magnets were resulted from alignment of the c-axis along the die-upsetting direction.