.Another interesting mineral which is identified as Magnetite is rather made from a natural occurring oxide of Iron. Besides that the mineral is known to be one of the most magnetic minerals to be discovered on this earth. Lodestones are also a part of the magnetite properties that would be uncovered by ancient people who came upon the property of Magnetism in most cases Magnetite is formed within all igneous, and metamorphic Rocks. All colours within Magnetite are usually establish as a Brownish black or Black colour. It also had a hardness that averages between a 5 and 6, which contains a black streak. In general Magnetite was first used within the earlier years as form towards Magnetic Compasses. Magnetite also has its own reactions that are usually formed from oxygen that produces Hematite, and is strongly known as an element which controls Oxygen Fugacity. Its occurrence is usually found in several sedimentary rocks that included banded iron formations. One location in Ontario, Canada that holds this mineral is located at the Caland Ore Pit in Atikokan.