Karelianite is an rare mineral, a natural form of vanadium(III) oxide, V2O3. In terms of chemistry it is vanadium-analogue of hematite, corundum, eskolaite, tistarite, bixbyite, avicennite, and yttriaite-(Y). It may be associated with magnesium-rich rocks.
References
Karelianite Wikipedia(Text) CC BY-SA