Magnetite: South Australia's potential
Magnetite, also called lodestone, or magnetic iron ore, iron oxide mineral (FeFe 2 O 4, or Fe 3 O 4) that is the chief member of one of the series of the spinel (q.v.) group.Minerals in this series form black to brownish, metallic, moderately hard octahedrons and masses in igneous and metamorphic rocks and in granite pegmatites, stony meteorites, and high-temperature sulfide veins. Magnetite is an important ore of iron. Well formed crystals are popular among mineral collectors, and the magnetic Lodestone variety is frequently sold in hobby shops to amateur collectors. Magnetite is also of significant interest to the science community due to its strong magnetic properties.