Yes, it is the correct answer. Iron ores are rocks and minerals from which metallic iron can be economically extracted. The ores are usually rich in iron oxides and vary in color from dark grey, bright yellow, deep purple, to rusty red. The oxide ore of iron are- magnetite (Fe3O4), hematite (Fe2O3). Limonite (Fe2O3.3H2O) is hydrated oxide ore of iron. Siderite (FeCO3) is the carbonate ore of iron.