A magnet is a special type of object which creates an invisible field around it & that magnetic field attracts several ferromagnetic materials like iron or another piece of magnet. This magnetic field is responsible to attract other magnetic objects like iron, nickel or cobalt towards a magnet.
The magnet, which is created naturally, is referred as natural magnet. Natural magnets are generally formed by lightning. The lightning causes to strike a huge amount of electrical current into crystal & this field is powerful enough to create a natural magnet. The another formation method of natural magnets is, in the time of natural calamities like volcano, the liquid rock and metals get aligned. Actually, all magnets are consisting of many tiny magnetic particles, all of them are considered as a unit of magnet. In this way, several tiny magnets working together to produce a large natural magnet.
A most commonly found natural magnet is lodestone. This particular mineral is widely used for making compasses in historical days. A natural magnet works just like any other artificial magnet. It has two poles namely, north pole and south pole. The lodestone usually attracts ferromagnetic materials like iron, nickel, cobalt and some alloys.
The limitation of the natural magnet is, the magnetic field of them get reduced over time. If it is kept in contact of another stronger magnet, then also the magnetic property get depleted.