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The phase structure and microstructure of Sm₁₂Co_88−xCu_x (x = 0, 2, 4, 6, 8, 10; at.%) as-cast alloys and melt-spun ribbons prepared via the arc-melting method and melt-spun technology were studied experimentally by X-ray diffraction (XRD) and scanning electron microscope (SEM) with energy dispersive spectroscopy (EDS). The results reveal that the Sm₁₂Co_88−xCu_x (x = 0) as-cast alloy contains Sm₂Co₁₇ and Sm₅Co₁₉ phases, while the Sm₁₂Co_88−xCu_x (x = 2) as-cast alloy is composed of Sm₂Co₁₇, Sm₂Co₇ and Sm(Co, Cu)₅ phases. Sm₂Co₁₇ and Sm(Co, Cu)₅ phases are detected in Sm₁₂Co_88−xCu_x (x = 4, 6, 8, 10) as-cast alloys. Meanwhile, Sm₁₂Co_88−xCu_x ribbons show a single SmCo₇ phase, which is still formed in the ribbons annealed at 1023 K for one hour. After annealed at 1123 K for two hours, cooled slowly down to 673 K at 0.5 K/min and then kept for four hours, the ribbons are composed of Sm₂Co₁₇ and Sm(Co, Cu)₅ phases. The magnetic measurements of Sm₁₂Co_88−xCu_x ribbons were performed by vibrating sample magnetometer (VSM). The results exhibit that the maximum magnetic energy product ((BH)_max), the coercivity (H_cj) and the remanence (B_r) of the Sm₁₂Co_88−xCu_x ribbons increase generally with the increase in Cu substitution. In particular, the magnetic properties of the ribbons annealed at 1123 K and 673 K increase significantly with the increase in Cu substitution, resulting from the increase in the volume fraction of the formed Sm(Co, Cu)₅ phase after heat treatment.