We report the observation of colossal positive magnetoresistance (MR) in single crystalline, high mobility TaAs2 semimetal. The excellent fit of MR by a single quadratic function of the magnetic field B over a wide temperature range (T = 2-300 K) suggests the semiclassical nature of the MR. The measurements of Hall effect and Shubnikov-de Haas oscillations, as well as band structure calculations suggest that the giant MR originates from the nearly perfectly compensated electrons and holes in TaAs2. The quadratic MR can even exceed 1,200,000% at B = 9 T and T = 2 K, which is one of the largest values among those of all known semi-metallic compounds including the very recently discovered WTe2 and NbSb2. The giant positive magnetoresistance in TaAs2, which not only has a fundamentally different origin from the negative colossal MR observed in magnetic systems, but also provides a nice complemental system that will be beneficial for applications in magnetoelectronic devices
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