Abstract: The cutting insert disclosed is a block of hard metal configured on at least one of its major faces to provide peripheral cutting edges successively index able about a central fastener location to position each edge serial for cutting. The major face slopes downwardly and inwardly from the cutting edges to provide rake surfaces of positive rake behind the cutting edges, and then rises as a sloping ledge to a central boss. A series of depressions disposed along the rake surface produce a ribbed chip which breaks more readily, and into smaller chips, easier to flush or otherwise remove from the cutting site.