Periclase occurs naturally in contact metamorphic rocks and is a major component of most basic refractory bricks. It is a cubic form of magnesium oxide (MgO).
The old term for the mineral is magnesia. Stones from the Magnesia region in ancient Anatolia contained both magnesium oxide and hydrated magnesium carbonate as well as iron oxides (such as magnetite). Thus these stones, called Stones from Magnesia in antiquity, with their unusual magnetic properties were the reason the terms magnet and magnetism were coined.