Magnetite has been very important

Magnetite has been very important in understanding the conditions under which rocks form. Magnetite reacts with oxygen to produce hematite, and the mineral pair forms a buffer that can control oxygen fugacity. Commonly, igneous rocks contain grains of two solid solutions, one between magnetite and ulvospinel and the other between ilmenite and hematite. Compositions of the mineral pairs are used to calculate how oxidizing was the magma (i.e., the oxygen fugacity of the magma): a range of oxidizing conditions are found in magmas and the oxidation state helps to determine how the magmas might evolve by fractional crystallization.

Small grains of magnetite occur in almost all igneous and metamorphic rocks. Magnetite also occurs in many sedimentary rocks, including banded iron formations. In many igneous rocks, magnetite-rich and ilmenite-rich grains occur that precipitated together from magma. Magnetite also is produced from peridotites and dunites by serpentinization.

Magnetite is a valuable source of iron ore. It dissolves slowly in hydrochloric acid.


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