Hematite is an iron ORE that is composed of iron oxide. It is a mineral with a metallic gray color and has a red-brown streak when it is scratched. It is the most important ORE of iron and is also known as 'red iron ORE' or 'red iron'. The term 'hematite' comes from the Greek word for blood, referring to its red color. The ORE is mined and used in a variety of applications, including jewelry and industrial uses.