Catalyst for converting synthesis gas to paraffin wax

A catalyst comprising a partially sulfided catalyst precursor comprising rhenium, porous aluminum borate, and a compound of an alkali metal, or alkaline earth metal, said catalyst having a specific surface area in the range of about 5 m.sup.2 /g to 200 m.sup.2 /g and being characterized by a pore volume in the range of about 0.05 cc/g to about 0.5 cc/g attributable to pores having diameters in the range of about 100 to 500 Angstroms, said catalyst precursor being of the nominal composition ReO.sub.x.aAl.sub.2 O.sub.3.bB.sub.2 O.sub.3 wherein x is about 2 to about 3.5, a is about 3 to about 6, and b is about 1 to about 4, and containing about 5 to about 15 wt.% of said compound of an alkali metal or alkaline earth metal based on the total catalyst precurosr weight, said catalyst precurosr being prepared by cogelation from an aqueous solution of sources of oxidized rhenium, alumina, and boria promoted by the addition to said solution of said compound of an alkali metal or alkaline earth metal, said catalyst precursor being partially sulfided by contact with a sulfiding compound under conditions selected to avoid complete sulfiding and total deactivation of the rhenium contained in the said catalyst precursor, and said catalyst precursor being subjected to a partial coking step whereby carbon is deposited on the surface of said catalyst precursor prior to contacting said precursor with said sulfiding compound.