The high pressure Bridgman technique was used to grow Zn_{1-x}Mn_{x}Te:P crystals. Under the N_{2} pressure of 30 atm., we obtained the p^{+}-Zn_{1-x}Mn_{x}Te single crystals 8-10 mm in diameter, with free-carrier densities as high as p ≈ 8×10^{18} cm^{-3} and the room temperature conductivity σ(RT) ≈ 30 Ω^{-1}cm^{-1}. Magnetoresistance measurements were carried out down to 1.3 K and up to 6 T. In Zn_{1-x}Mn_{x}Te:P a strong increase in the acceptor binding energy as well as an immense (ρ(0,1.3K)/ρ(6T,1.3K) > 10^{3}) negative magnetoresistance are observed, by contrast, not seen in diamagnetic ZnTe:P. It is shown that these effects come from the formation of bound magnetic polarons and their destruction by an external magnetic field.
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