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Name the compound of iron contained in lodestone.

Answer
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Hint: Recall the basic information about loadstone. Also check the compound mineral and the main element present in the loadstone.

Complete step by step answer:
Loadstone is a magnet which occurs naturally. It contains the compound named magnetite in it which is magnetized.
The formula for magnetite is Fe3O4 which shows that it contains iron and hence gets attracted by the magnets. It is ferromagnetic in nature and it can be converted to a permanent magnet.
The magnetite is ferromagnetic in nature, but it gets attracted by magnets and is not a magnet. But the magnetite in loadstone is magnetized and itself acts as a magnet.
This magnetite itself cannot be magnetized by the magnetic field of the earth which is 0.5 gauss and is too weak to convert it into a magnet.
It is supposed that the magnetite in the loadstone is magnetized by the magnetic fields surrounding lightning bolts.
The loadstone being a magnet attracts the iron containing compounds as well as the loadstone which is ferromagnetic in nature.
When the loadstone was suspended freely, it was found to stabilize in a direction with its axis along south-north direction.
This property of loadstone is used in magnetic compasses to check the directions for sea travellers.

The compound of iron contained in lodestone is magnetite.

The compound of iron contained in lodestone is magnetite.

Note:
Since the compound magnetite present in the loadstone is ferromagnetic in nature, the loadstone is a naturally occurring magnet as the magnetite contained in it gets magnetized to form a permanent magnet.