An apparatus and a method for monitoring a ratio of at least two components being mixed use sensors detecting ferrous taggant particles in the component(s) and the mixture. The sensors include an annular drive coil positioned between inner and outer annular sense coils all surrounding a passage for material being sensed. The ratio is determined by comparing a signal generated by one sensor through which a taggant particle containing component is flowing with a signal generated by another sensor through which the mixture is flowing delayed by the time required for the component to flow from the one sensor to the another sensor. The signals can also be used to control the flow of the components and to check the mixture after use.
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