Laterite soils contain high amounts of iron oxide organic material calcium carbonate calcite

Answer is: Laterite soils contain high amounts of iron oxide.

Laterite soils are formed in hot and wet tropical areas (Australia, South America, East Africa).

Usually they have rusty red color.

Iron oxides are chemical compounds composed of iron and oxygen, for examples: iron(II) oxide (FeO) and iron(III) oxide (Fe₂O₃).