A bulk high performance permanent magnet comprising a neodymium-iron-boron core having an outer surface, and a coercivity-enhancing element residing on at least a portion of said outer surface, with an interior portion of said neodymium-iron-boron core not having said coercivity-enhancing element therein. Also described herein is a method for producing the high-coercivity bulk permanent magnet, the method comprising: (i) depositing a coercivity-enhancing element on at least a portion of an outer surface of a neodymium-iron-boron core substrate to form a coated permanent magnet; and (ii) subjecting the coated permanent magnet to a pulse thermal process that heats said outer surface to a substantially higher temperature than an interior portion of said neodymium-iron-boron core substrate, wherein said substantially higher temperature is at least 200° C. higher than said interior portion and is of sufficient magnitude to induce diffusion of said coercivity-enhancing element below said outer surface but outside of said interior portion.