Neodymium is named from the Greek neo, new, and didymos, twin and was discovered in 1885. The element occurs along with other rare-earth elements in a variety of minerals. Monazite and bastnasite are the principal commercial sources of the rare-earth metals. The metal is isolated using ion exchange and solvent extraction methods. Neodymium is a soft, silvery-white, malleable and ductile metal. Neodymium is a component of misch metal, and is also used to color glass.