Colossal magnetoresistance is of great fundamental and technological significance and exists mostly in the manganites and a few other materials. Here we report colossal magnetoresistance that is starkly different from that in all other materials. The stoichiometric ${\mathrm{Mn}}_3{\mathrm{Si}}_2{\mathrm{Te}}_6$ is an insulator featuring a ferrimagnetic transition at 78 K. The resistivity drops by seven orders of magnitude with an applied magnetic field above 9 T, leading to an insulator-metal transition at up to 130 K. However, the colossal magnetoresistance occurs only when the magnetic field is applied along the magnetic hard axis and is surprisingly absent when the magnetic field is applied along the magnetic easy axis where magnetization is fully saturated. The anisotropy field separating the easy and hard axes is 13 T, unexpected for the Mn ions with nominally negligible orbital momentum and spin-orbit interactions. Double exchange and Jahn-Teller distortions that drive the hole-doped manganites do not exist in ${\mathrm{Mn}}_3{\mathrm{Si}}_2{\mathrm{Te}}_6$. The phenomena fit no existing models, suggesting a unique, intriguing type of electrical transport.

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• Colossal magnetoresistance
• Ferrimagnetism
• Frustrated magnetism
• Magnetic anisotropy
• Insulators