Hematite is a silvery-black crystalline form of iron oxide. Though hematite can take beautiful, natural forms as it comes from the ground (the ‘iron rose’ variety is one), it is seldom used for jewelry.
The material commonly used in jewelry uses the cutely similar name of hematine. Hematine is either ground natural hematite or some other black iron oxide powder made in an industrial process that is then mixed with a binder, such as epoxy resin, formed into beads, and polished.
Image courtesy of irocks.com.
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