The earliest reports of magnetically induced optical birefringence included data for liquids, magnetic fluids and colloidal suspensions. Recent work has shown that with relatively straightforward apparatus, when carefully designed and aligned, measurable effects can be recorded even for suspensions of relatively weak diamagnetic materials, including mineral particles. By recording the magnitude of the birefringence induced in magnetic fields of up to two Tesla, a method for the analysis of the magnetic and optical characteristics of these diamagnetic colloids is evidenced. The principles, apparatus and methodology involved are described and novel data reported for the minerals attapulgite, bentonite, hectorite, kaolinite, montmorillonite and vermiculite. Preliminary experiments using pulsed fields on vermiculite sols show that, in favourable circumstances, estimates of particle size can be made by analysing signal response rates.