Magnetite

Back in ancient times, people discovered that magnetite crystals attract or repel each other, depending on their orientation. We call this physical phenomenon magnetism. The words magnetite and magnesium are both derived from Magnesia, the name of an area in the Thessalyë region of ancient Greece where magnetic stone can be found in abundance.

It is the iron in the rock that is responsible for the magnetic properties of magnetite. Many iron alloys possess magnetic properties. Besides in iron, we find magnetic properties in nickel, cobalt and gadolinium as well.