This statement is True.
Magnesium diiodide (MgI2) is a chemical compound composed of magnesium and iodine. In this formula, magnesium (Mg) has a +2 oxidation state, while each iodine (I) atom has a -1 oxidation state. Since there are two iodine atoms, the overall charge balances out to zero, which confirms that the compound is correctly named magnesium diiodide. The ‘di’ prefix in diiodide indicates that there are two iodine atoms in the formula.