Magnetite is a naturally occurring iron oxide with the chemical formula Fe3O4. It is mined from several deposits worldwide and although most is used to make iron. It was originally called lodestone as early as 1548 and by other names such as magnetic hematite. Magnetite was given that name in 1845 by Wilhelm Karl von Haidinger because natural magnets (lodestones) were known to ancient Greeks, who called this mineral "magnet", where was found in the lands of the Magnetes (Magnesia) in Thessaly. Naturally-magnetized pieces of magnetite, called lodestone, will attract small pieces of iron, which is how ancient peoples first discovered the property of magnetism.
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