HEMATITE EXPLAINED ⬇️ Hematite is an iron oxide mineral with the chemical formula Fe₂O₃. It is one of the most abundant and economically significant iron ores, known for its metallic lustre and earthy red streak. Hematite can occur in a variety of forms, including botryoidal, fibrous, tabular, and massive. Physical Properties: Colour: Metallic steel-grey to black (crystalline forms) and earthy red to brown (massive forms). Streak: Red to reddish-brown. Lustre: Metallic to earthy. Hardness: 5.5–6