Magnetite
From DwarfFortressWiki
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Magnetite ore can be smelted at a smelter by a dwarf with the furnace operating labor activated to produce iron bars. It is, for all metalsmithing purposes, identical to hematite.
Magnetite is one of only 3 types of stones that can contain platinum nuggets. It is also the only ore to occur as a large clusters (750 pieces on average).
[edit] Magnetite and real world geology
Although Magnetite seems to have no special properties at this time in Dwarf Fortress it is reasonable to assume that some have been contemplated. In real word geology magnetite is the most magnetic of all the naturally occurring minerals. For further reference see Wikipedia's article on Magnetite
