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Hematite is an iron oxide crystal and an important ore of iron. The name comes from the Greek word for blood. In industrial settings it is largely mined and it is the source of about 90% of all iron mined U.S. It has been used to create red and brown pigment in the past. In commercial settings, well formed crystals are popular with collectors and it is often seen high-polished with a metallic luster in tumbled form as an inexpensive choice for collectors.