Method of forming a component by sintering an iron-based powder mixture

A method of forming a component, the method comprising preparing an iron-based powder mixture, and compressing and sintering the mixture to form the component, wherein said mixture comprises a first powder which forms 40 to 60 wt % of the mixture and which is an atomised pre-alloy comprising nickel, cobalt and iron, a second powder which forms 30 to 50 wt % of the mixture and essentially consists of iron, a third powder which essentially consists of ferromolybdenum, a fourth powder which essentially consists of graphite, and optionally a fifth powder which essentially consists of ferrotungsten, and wherein the component has a composition comprising 5 to 11 wt % of nickel, 5 to 11 wt % of cobalt, 5 to 8 wt % molybdenum, 0.25 to 0.9 wt % carbon, up to 1 wt % of tungsten, and a balance which essentially consists of iron.