Hematite gets its name from Latin meaning “blood stone”. This is because in ancient times Hematite was not polished and tumbled so it had a “bloodier” appearance, and not the slivery/black appearance that we see today.
Hematite has correspondents of Concentration, courage confidence, trust, protection, and focus Hematite has an element of: Fire and/or Earth Hematite has a ruling Planet of Mars, but because of this it can be used for Saturn as well. Hematite has a hardness of 5-6.5 on the Mohs Hardness Scale. Hematite has a very projective energy. Hematite is a Zodiac stone of Aries and Aquarius, but it is not a birthstone for any month.
Hematite is known as a “stone of the mind” and those who utilize it properly feel more focused and concentrated, it also helps to enhance memory. Hematite is a stone that can be very useful for beginners, and those who have a hard time grounding themselves or protecting themselves, as this stone lowers negativity. Lowering of negativity can benefit by helping balance the body/mind/spirit connection While used in mediation it is also helps to balance out energy within your body, not just with grounding but in mind and body as well. Hematite can be used at the corners of a room or property as a simple but protective spiritual crystal grid. This is usually also done with Selenite. Since it is a cleansing stone, Hematite is thought to also protect against electromagnetic waste/smog, so hematite can be placed by your laptop and other electronics.
Do not use this stone in gem elixirs directly as it contains a lot of iron, which can be toxic in large amounts. Often in modern times, what is often called Hematite (or Hemalyke), is an imitation substance that is (or should be) referred to as Hematine. Hematine is made of stainless steel, comium and nickel sulfides. Hematine resembles Hematite to such a degree that visually it is difficult to discern the difference. However, it is the imitator Hematine that is magnetic, not the natural Hematite. (according to this website.)