In this equation the numbers of atoms are same in both side. There are four iron and six oxygen atoms are present on left and right side of equation. That's why atoms are conserved. This equation completely followed the law of conservation of mass.
Law of conservation of mass:
According to the law of conservation mass, mass can neither be created nor destroyed in a chemical equation.
This law was given by french chemist Antoine Lavoisier in 1789. According to this law mass of reactant and mass of product must be equal, because masses are not created or destroyed in a chemical reaction.