Iron looses three electrons which leads to the formation of the Fe3+ cation in the redox reaction equation.
The chemical equation is written as follows; Fe(s) + O2 (g) → Fe3+ O2−. Recall that a redox reaction equation is one in which there is loss/gain of electrons. The oxidation number of the specie that loose electrons increases while the oxidation number of the specie that gains electrons decreases.
We can see from the reaction equation shown above that iron looses three electrons which leads to the formation of the Fe3+ cation in the redox reaction equation.
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