Hard metals are commercially the oldest and the best known representatives of materials produced by powder metallurgy. They possess excellent properties that are suitable for numerous industrial applications. Hard metal is a composite material consisting of two major phases: tungsten carbide and binder. In this master’s thesis modified hard metal with 10 % of nickel as binder (WC-10Ni) was produced by classic powder metallurgy. The goal was to obtain a nonmagnetic material that would be suitable as powder pressing tool in the production of magnets by powder metallurgy. Three different temperatures of sintering were used with purpose to determine a dependence and correlation of microstructure and properties with processing parameters. It was established that main goal, in the context of nonmagnetic material production, was not obtained. Nevertheless, very valuable results were accomplished that are very close to the desired. Further investigations are needed to establish additionally information that could be used for an optimization of processing parameters that would be result in the production of nonmagnetic hard metal with nickel as alternative binder.