Magnetism
Magnetism is a class of physical phenomena that are mediated by magnetic fields. Electric currents and the magnetic moments of elementary particles give rise to a magnetic field, which acts on other currents and magnetic moments. The most familiar effects occur in ferromagnetic materials, which are strongly attracted by magnetic fields and can be magnetized to become permanent magnets, producing magnetic fields themselves. Only a few substances are ferromagnetic; the most common ones are iron, nickel and cobalt and their alloys. The prefix "" refers to iron, because permanent magnetism was first observed in lodestone, a form of natural iron ore called magnetite, FeO.
Rock magnetism
Collectively, strongly magnetic materials are often referred to as ferromagnets. However, this magnetism can arise as the result of more than one kind of magnetic order. In the strict sense, ferromagnetism refers to magnetic ordering where neighboring electron spins are aligned by the exchange interaction. The classic ferromagnet is iron. Below a critical temperature called the Curie temperature, ferromagnets have a spontaneous magnetization and there is hysteresis in their response to a changing magnetic field. Most importantly for rock magnetism, they have remanence, so they can record the Earth's field.