Magnesite is a magnesium carbonate mineral (MgCO3). It’s often found as an alteration product of serpentine rocks and other magnesium-rich rock types, occurring as veins or in veins in fractures. In India, significant deposits are located in Uttarakhand, Tamil Nadu, Karnataka, and Rajasthan. Magnetite (Fe3O4) is a naturally occurring iron oxide mineral known for its strong magnetic properties. It is also a major iron ore, meaning it’s a source of iron used in steel production. Magnetite is ferrimagnetic, meaning it’s strongly attracted to magnets and can be magnetized itself.