Why is Hematite a mineral?

Hematite is one of the most abundant minerals on Earth's surface and in the shallow crust. It is an iron oxide with a chemical composition of Fe2O3. It is a common rock-forming mineral found in sedimentary, metamorphic, and igneous rocks at locations throughout the world.

Hematite is the most important ore of iron. Although it was once mined at thousands of locations around the world, today almost all of the production comes from a few dozen large deposits where significant equipment investments allow companies to efficiently mine and process the ore. Most ore is now produced in China, Australia, Brazil, India, Russia, Ukraine, South Africa, Canada, Venezuela, and the United States.

Hematite has a wide variety of other uses, but their economic significance is very small compared to the importance of iron ore. The mineral is used to produce pigments, preparations for heavy media separation, radiation shielding, ballast, and many other products.