8mm Round Hematite Cabochon. These opaque Hematite stones are polished to a round, cabochon shape to enhance their silvery, iridescent surfaces. Hematite is iron oxide, a common iron ore found in igneous rock. A very, old stone, Hematite has been used in the creation of many works of arts, from making mirrors, to cave paintings. Hematite is associated with mental strength.