Magnetite is an important ore of iron, and it is uniquely ferrimagnetic; it is attracted to a magnet and can be magnetized to become a permanent magnet itself. In some circumstances, it is naturally magnetized. In this magnetized state it is commonly known as Lodestone, and it is the only mineral on earth that is a natural magnet. This iron mineral is dark gray to black, very heavy and has a metallic luster. It is often associated with numerous aesthetic minerals including Calcite, Hematite, Quartz, Epidote and Pyrite.

The crystal system for Magnetite is isometric. Crystals are usually octahedral, often very defined and sharp, and less commonly dodecahedral. Other forms include druzy, in veins, striated, granular, massive, and in rare cases, cubic.

Magnetite is a common mineral found throughout the world. Notable localities for quality specimens include Bolivia, Pakistan, Russia, Sweden, Switzerland and the USA (New York, Vermont, Arkansas).

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