The instant invention relates to a liquid composition comprising a mixture of: (1) water and/or a polar solvent; (2) a colloidal dispersion of mineral particles; and (3) a phosphonate terminated poly(oxyalkene) polymer; the invention also relates to process for stabilizing aqueous and/or solvent-based dispersions of mineral particles comprising the step of adding an efficient stabilising amount of a phosphonate terminated poly(oxyalkene) polymer.