This invention relates to magnesium-based alloys particularly suitable for casting applications where good mechanical properties at room and at elevated temperatures are required. The alloys contain: 2 to 4.5% by weight of neodymium; 0.2 to 7.0% of at least one rare earth metal of atomic No. 62 to 71; up to 1.3% by weight of zinc; and 0.2 to 0.7% by weight of zirconium; optionally with one or more other minor component. They are resistant to corrosion, show good age-hardening behaviour, and are also suitable for extrusion and wrought alloy applications.