Iron (periodic table symbol: Fe26) in the form of iron oxide gives Mars its characteristic red color. Iron can be extracted from iron oxide by smelting or may be found as meteoric iron. Iron is a basic constituent of a very wide variety of structures and machines. Iron oxide is a chemical compound of the form Fe2O3 (hematite) or Fe3O4 (magnetite). Fe2O3 is rusty red in color. Magnetite is usually black.