Know all about Laterite and Banded iron formation properties here. All properties of rocks are important as they define the type of rock and its application. Laterite and Banded iron formation belong to Sedimentary Rocks.Texture of Laterite is Earthy, Massive, Porphyritic whereas that of Banded iron formation is Banded, Trellis. Laterite appears Rough and Banded and Banded iron formation appears Layered, Banded, Veined and Shiny. The luster of Laterite is dull while that of Banded iron formation is earthy. Laterite is available in brown, buff, red colors whereas Banded iron formation is available in red, reddish brown colors. The commercial uses of Laterite are an oil and gas reservoir, source of bauxite, used in aquariums and that of Banded iron formation are as a touchstone, cemetery markers, creating artwork.