Yes, it is correct.
Oxidation
Most of the metals will oxidize, but the only one for which that process is called "rusting" is iron.
Oxidisation.
Rusting
This is a normal rusting.
corrosion (in iron this is called rusting)
This is a reaction of oxydation (rusting).
Rusting is an irreversible process.
A good example of an oxidation reaction. The rusting of steel is essentially just rusting (oxidation) of iron.
The process is called rusting, iron oxidation.
Rusting is an oxidation reaction.