Banded iron formation is more precisely defined as chemically precipitated sedimentary rock containing greater than 15% iron. However, most BIFs have a higher content of iron, typically around 30% by mass, so that roughly half the rock is iron oxides and the other half is silica. The iron in BIFs is divided roughly equally between the more oxidized ferric form, Fe(III), and the more reduced ferrous form, Fe(II), so that the ratio Fe(III)/Fe(II+III) typically varies from 0.3 to 0.6. This indicates a predominance of magnetite, in which the ratio is 0.67, over hematite, for which the ratio is 1. In addition to the iron oxides (hematite and magnetite), the iron sediment may contain the iron-rich carbonates, siderite and ankerite, or the iron-rich silicates, minnesotaite and greenalite. Most BIFs are chemically simple, containing little but iron oxides, silica, and minor carbonate, though some contain significant calcium and magnesium, up to 9% and 6.7% as oxides respectively.