Abstract: A new tungsten compound is formed by reacting ammonium metatungstate with guanidine carbonate. Such a compound can be converted to metallic tungsten, tungsten carbide or oxycarbide, and tungsten nitride or oxynitride. One can also make multiphase composite particles based on molybdenum, tungsten or their compounds (such as carbide or nitride), and at least one other metallic phase, such as cobalt, copper, nickel, iron or silver. The process involves first dispersing particles of a refractory metal or its compounds in a liquid medium, followed by inducing a chemical reaction in the liquid phase to generate a new solid phase which coats or mixes with the dispersed particles. The solid phase includes elements required in the final composite. After removing the liquid phase, the remaining solid is converted by hydrogen reduction into the final products.