 New Zealand is the only country to use ironsand for industrial smelting.The typical composition of the magnetite is 82% iron oxide, 8% titanium dioxide and 8% silica; 0.015% sulfur, and 0.015% phosphorus.In 100% concentrations of magnetite this had a maximum potential to yield ~ 58% metallic iron, although the titanium is unrecoverable by modern techniques.