Magnetite may be mistaken for the more metallic varieties of hematite, and to make matters worse, the two commonly occur mixed together. Pure samples of the two can be distinguished because magnetite is magnetic, while hematite is not.
This means that magnetite consists of one part of wustite and one part of hematite. Magnetite is the most magnetic mineral that is found on Earth. Its color ranges somewhere between black and dark brownish black and this mineral has a metallic luster like most metallic minerals do.