Hematite

Hematite is a basic material with the appearance of red and pointy crystals.

Source
Hematite can be found here:
 * Novus
 * Glacio
 * Trade Platform
 * 2 Hematite for every 3 Scap, up to 4 total

Uses
Hematite can be used to craft the following items:
 * In Smelting Furnace
 * Iron