Environmental magnetic techniques have been used to discriminate sources of sediments from a variety of natural and anthropogenic sources. In many studies, magnetic properties such as susceptibility, have served as a proxy for heavy metal concentrations. In these cases, there tends to be enhancement of magnetic minerals. The study presented here explores the application of environmental magnetic measurements as a proxy for heavy metal concentrations from the Formosa Mine Superfund site. It was hypothesized that a similar pattern would be seen when comparing sediments from the mine to sediments downstream from the site and also that magnetic susceptibility and/or isothermal remanent magnetization might provide a useful tool for assessing relative concentrations of heavy metals. The results suggest that there are no significant correlations between heavy metals concentrations and magnetic properties and that processes at the mine have led to depletion of magnetic minerals from the sediments at the mine relative to those downstream.