In Romanesque wall paintings in Aragon (Spain), the pigment used for creating blue was a very characteristic mineral, aerinite, which came from local ores in the southern Pyrenees. Optical and scanning electron microscopy (SEM), with energy-dispersive X-ray (EDX) analysis, X-ray diffraction, and reflectance spectroscopy were used to make a detailed microcharacterization of this rare blue pigment in order to improve the knowledge of its composition and possible variability, from samples of medieval paintings and some mineral ores. New analytical data on the chemical composition of the blue pigment are reported here, together with the characterization of its microstructure, and the heterogeneity of the natural pigment made by the features of the ore itself. X-ray diffraction pattern and color parameters of the mineral ores are also included. The data obtained by SEM-EDX will assist identification of this pigment by electron microscopy. The natural variability in composition observed in the samples may be used to explain formation of the extracted mineral and to compare several ore sources. Connection of the ore composition with the pigments used in Romanesque wall paintings will help both provenance and attribution studies.