Self-lubricating wear-resistant composite materials are produced by blending a metal powder matrix with a combination of molybdenum disulfide and tungsten disulfide powders, compression-molding the blend and then sintering the molding at 800° to 1000°C. When the combination of molybdenum disulfide and tungsten disulfide is blended with a metal powder matrix as described above, the molybdenum disulfide reacts with the metal powder matrix and consequently reinforces the metal matrix and the tungsten disulfide is dispersed as a lubricant element in the resultant composite material, giving rise to a composite material excellent in mechanical strength and lubricating property.
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