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TeachMeFinance.com - explain Calcite Calcite -- A common rock-forming mineral: CaCO3. Calcite can be white, colorless, or pale shades of gray, yellow, and blue. It readily effervesces (bubbles) in hydrochloric acid and is the principal component of limestone. Copyright © 2005 by Mark McCracken, All Rights Reserved. TeachMeFinance.com is an informational website, and should not be used as a substitute for professional medical, legal or financial advice. Information presented at TeachMeFinance.com is provided on an "AS-IS" basis. Please read the disclaimer for details.