Magnetite is the finest iron ore with a very high content of iron up to 70 per cent. It has excellent magnetic qualities, especially valuable in the electrical industry. Hematite ore is the most important industrial iron ore in terms of the quantity used, but has a slightly lower iron content than magnetite. (50-60 per cent).
Magnetite is a mineral whose primary component is an iron oxide that contains equal amounts of iron(II) and iron(III). Its empirical formula is Fe3O4, and it is often expressed as iron(II,III) oxide. In the past, it has been called ferrous–ferric oxide and tri-iron tetra-oxide.
Magnetite is found in igneous, metamorphic, and sedimentary rocks. As its name implies, it is magnetic; it and other inherently magnetic iron-containing minerals are described as being ferrimagnetic. Magnetite is in the hexoctahedral crystal class; in the 3-D crystal structure, the purple atoms are iron, and the red atoms are oxygen.
Magnetite’s greatest use is as an important iron ore for steel manufacture. Other applications are as a catalyst in the Haber process for making ammonia, as a pigment for paints and ceramics, and as magnetic micro- and nanoparticles for a variety of processes and materials.
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