Abstract: The method disclosed here comprises the steps of (a) mixing metal powder, a resin, abrasive grains, and a solid reducing agent at the normal (room) temperature through the melting point of the reducing agent to form a mixture and (b) molding and baking the mixture at the melting point of the reducing agent through that of the metal powder. The solid reducing agent is a fatty acid, preferably stearic acid having a volume ratio of 5 to 20% with respect to the metal powder. With is, it is possible to make metal-resin bond grindstones that give such high-quality mirror surfaces that have conductivity fit for ELID grinding and are not liable to have chippings or scratches and also have an Rmax value of approximately 3 nm or less.