Abstract: A method wherein one or more metal salts of at least one iron group metal containing organic groups are dissolved and complex bound in at least one polar solvent with at least one complex former comprising functional groups in the form of OH or NR.sub.3, (RH.dbd.H or alkyl). Hard constituent powder and, optionally, a soluble carbon source are added to the solution. The solvent is evaporated and the remaining powder is heat treated in an inert and/or reducing atmosphere. As a result, coated hard constituent powder is obtained which after addition of a pressing agent can be compacted and sintered according to standard practice to a body containing hard constituents in a binder phase.