  Specific heat, magnetic torque, and magnetization studies of LiCoPO4 olivine
are presented. They show that an unique set of physical properties of LiCoPO4
leads to the appearance of features characteristic of 2D Ising systems near the
Neel temperature, T_N =21.6 K, and to the appearance of an uncommon effect of
influence of magnetic field on the magnetocrystalline anisotropy. The latter
effect manifests itself as a first-order transition, discovered at ~9 K,
induced by magnetic field of 8 T. Physical nature of this transition was
explained and a model describing experimental dependences satisfactorily was
proposed.

Materials Science