Final answer:
Hematite is the mineral mined specifically for its iron content, and it is a primary source of iron for the steel industry.
Step-by-step explanation:
The mineral mined for its iron content is hematite. Hematite is a common ore of iron and is distinguished by its characteristic red-brown to black color in both its raw and powdered form. It is mined for its high iron content, which makes it a crucial material in the production of steel and other iron-based products. Hematite, along with magnetite, constitutes the primary source of the iron used in the steel industry worldwide.