So the new ore mineral, according to information from Alpha, seems to be Pyrite? Really? As a geologist/geochemist in RL, may I just say... lolno.
I will qualify first by saying that I have been pleased in the past by Blizzard's understanding of geology (for example, knowing that copper/gold occurs naturally in veins and iron does not is a step above most, I would think) but... pyrite is an iron sulphide.
More to the point, 'smelting' Pyrite (FeS2) forms the reaction:
4FeS2 + 11O2 --heat--> 2Fe2O3 + 8SO2
In other words, you get iron oxide (basically iron ore) and sulphur dioxide (sulphuric acid: just add water!).
Chemistry fail, Blizz.
(PS: Please take this post with the irony with which is was intended, kthx)