What is a lodestone commonly known as?

A lodestone is commonly known as a natural magnet because it is a type of magnetized piece of the mineral magnetite. Lodestones have the unique property of attracting ferromagnetic materials, such as iron, due to their magnetic field. This natural magnetism occurs without any human manipulation or artificial means, setting lodestones apart from artificial magnets, which are created through various processes.

While artificial magnets are made by subjecting materials to magnetic fields or through other methods, lodestones occur naturally in the earth's crust. Their historical significance includes usage in navigation as compasses, where the magnetic properties of the lodestone helped early explorers find their way. This intrinsic magnetic property is what defines lodestones and distinguishes them in the context of magnetism and materials science.