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.
Lodestone
The process by which lodestone is created has long been an open question in geology. Only a small amount of the magnetite on the Earth is found magnetized as lodestone. Ordinary magnetite is attracted to a magnetic field like iron and steel is, but does not tend to become magnetized itself; it has too low a magnetic coercivity (resistance to demagnetization) to stay magnetized for long. Microscopic examination of lodestones has found them to be made of magnetite (FeO) with inclusions of maghemite (cubic FeO), often with impurity metal ions of titanium, aluminium, and manganese. This inhomogeneous crystalline structure gives this variety of magnetite sufficient coercivity to remain magnetized and thus be a permanent magnet.