Amarantite is an amaranth-red to brownish mineral with the general formula of or . The name comes from the Greek word αμάραντος which means amaranth, an imaginary undying red flower, in allusion to its color. Amarantite is a very rare mineral and can only be found in a couple of places such as Carocoles, Chile. Although it is a source of iron, there is not enough amarantite to be mined for iron. However, when found in crystal form its red orange color gives it value as a collectors item.