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Much of the common ore of iron is a 'banded iron deposit' and this was created when, about 2.5 billion years ago, the earliest algae invented photosynthesis. This led to an oxygenated atmosphere, and this in turn allowed the iron; previously dissolved in the oceans; to be precipitated out as the oxide. This event is responsible for the banded iron deposits of North America, Australia, UK, and so on. The brown parts contain Fe2O3, and the black parts Fe3O4.

The names of the common iron minerals are magnetite, limonite, goethite, and hematite.

The origin of the iron is in the Earth's core, and this comes to the Earth's surface by volcanic action. Black volcanic iron sand is mined as a resource in several areas.

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