  Applied magnetic field induces metal - insulator and re-entrant
insulator-metal transitions in both graphite and rhombohedral bismuth. The
corresponding transition boundaries plotted on the magnetic field - temperature
(B - T) plane nearly coincide for these semimetals and can be best described by
power laws T ~ (B - B_c)^k, where B_c is a critical field at T = 0 and k = 0.45
+/- 0.05. We show that insulator-metal-insulator (I-M-I) transformations take
place in the Landau level quantization regime and illustrate how the IMT in
quasi-3D graphite transforms into a cascade of I-M-I transitions, related to
the quantum Hall effect in quasi-2D graphite samples. We discuss the possible
coupling of superconducting and excitonic correlations with the observed
phenomena, as well as the signatures of quantum phase transitions associated
with the M-I and I-M transformations.
