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The bulk superconductors can be used as permanent magnets of very high magnetic induction, provided that a feasible way of magnetization is identified and that the superconducting material can withstand the magnetic forces induced by high trapped fields. Here it has been considered as superconducting permanent magnet a bulk MgB2 ring, obtained by the Reactive Liquid Infiltration (RLI) process. This material offers several advantages with respect to the well known YBCO textured material, even if its application temperature will be far lower, around 20-30 K. First of all, MgB2 does not require grain orientation to reach enough current density, it can be produced in a quite straight forward way, it is lightweight and it is mechanically robust. To magnetize the MgB2 ring, we have applied a DC magnetic field with a superconducting magnet, using a step wise, field cooling type, procedure. The induced magnetization of the bulk MgB2 ring, at 4 K, is around 2 T in its vicinity. It has been verified that the magnetization is very stable during the time and it can withstand also AC disturbances of several Hz in frequency.