Pure iron is a soft, grayish-white metal. Although iron is a common element, pure iron is almost never found in nature. The only pure iron known to exist naturally comes from fallen meteorites. Most iron is found in minerals formed by the combination of iron with other elements.ron ore is converted into various types of iron through several processes. The most common process is the use of a blast furnace to produce pig iron which is about 92-94% iron and 3-5% carbon with smaller amounts of other elements.