The behavior of the fine solid mixture in a fluid depends critically on its rheological property. The rheological properties of a mixture change based on factors like particle size distribution, shape, density, etc. In this paper, two different minerals with distinct densities and similar size distribution with its mixture at different proportions (i.e., at 10–90% of magnetite/chromite ore: silica) were used for settling and rheological studies. Experiments were piloted using both mono-density and dual component mixture having poly-dispersed sample sets at different solids percentage (10–60%) for the hindered settling studies followed by rheological studies in the double-gap rheometer setup in a controlled shear rate method. The viscosity of the slurry decreased with an increased percentage of heavier particles in the mixture. Using the experimental data set, the effect of component density on the rheology of a particulate slurry mixture was assessed, and a multi-component viscosity mathematical model was developed. © 2020, The Indian Institute of Metals - IIM.