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Iron cobalt black spinel is an inorganic pigment that is the reaction product of high temperature calcination in which cobalt (II) oxide, iron (II) oxide, and iron (III) oxide in varying amounts are homogeneously and ionically interdiffused to form a crystalline matrix of spinel. Its compoition may include any one or a combination of the modifiers Al2O3, B2O3, MnO, NiO, or SiO2.