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Asif ali Best Answer
Magnetite ore has much lower concentrations than hematite ore. Because a magnetite ore deposits contains low concentrations of magnetite and the ore has lower Fe content from 23% to 40%. But compositionally magnetite contains , A significant mining area is Michigan, USA. you confused that magnetite has higher Fe content (Fe=72%), yes it's true and for hematite ( 64-66%) but Hematite ores contains usually large concentrations of Hematite but Magnetite ores contains low concentrations of magnetite hence Fe content of magnetite ore is less than that of Hematite.