The name hematite is derived from the Greek word for blood (haima) because hematite can be red.  Hematite is mined as the main ore for iron.  Some uses of the mineral are as a polishing compound (rouge), coloring pigment for bricks and tile, and in jewelry.

SPECULAR HEMATITE is a variety of hematite with a blue-gray color and bright metallic luster.

 

 

For more information try these links:

http://www1.newark.ohio-state.edu/Professional/OSU/Faculty/jstjohn/UP%20Michigan%20geology/Specularites.htm

http://stoneplus.cst.cmich.edu/hematite.htm

http://ion.asu.edu/min13_spechemtite/min13_thumb.htm

http://www.mindat.org/min-5574.html