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Many everyday items are made from iron. Haematite is an ore of an iron haematite containing iron oxide. $ F{e_2}{O_3} $ What is the meaning of the term ore?

Answer
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Hint: Ore is a naturally occurring solid material from which a metal or valuable mineral can be extracted profitably. Iron ores are rocks and minerals from which metallic iron can be economically extracted. The ores are usually rich in iron oxides and vary in color from dark grey, bright yellow, or deep purple to rusty red.

Complete answer:
Hematite, heavy and relatively hard oxide mineral, ferric oxide that constitutes the most important iron ore because of its high iron content and its abundance.
Hematite naturally occurs in black to steel or silver-gray, brown to reddish-brown, or red colors. It is mined as an important ore of iron. It is electrically conductive. Ores containing very high quantities of hematite or magnetite are known as natural ore or direct shipping ore, meaning they can be fed directly into iron-making blast furnaces. Iron ore is the raw material used to make pig iron, which is one of the main raw materials to make steel $ 98\%$ of the mined iron ore is used to make steel.

Note:
Direct shipping ores deposits are typically rarer than the magnetite-bearing BIF or other rocks which form its main source or protolith rock, but are considerably cheaper to mine and process as they require less beneficiation due to the higher iron content. However, direct shipping ores can contain significantly higher concentrations of penalty elements, typically being higher in phosphorus, water content and aluminum.