Haematite (often spelled hematite) takes its name from the Greek word "haima", meaning blood, because it tends to show red streaks when rubbed against a harder substance.
Healers use haematite to cleanse the blood and treat other blood disorders, including high blood-pressure. It draws out inflammation, eases pain and is particularly good for the liver and kidneys.
It's said to be very grounding, calming and helpful in lifting depression. It aids intuition, improves memory, focuses the intellect and dissolves negativity.
Haematite is associated with the sixth and seventh chakras - the third eye and crown. It's also an important gemstone for subduing an over-active first (root) chakra.