Carbon nanotubes can be produced by the catalytic decomposition of hydrocarbons on small metal particles. However, nanotubes are generally produced together with non-tubular filaments and tubes coated by pyrolytic carbon. We propose a novel catalyst method for the in situ production, in a composite powder, of a huge amount of single- and multiwalled carbon nanotubes, having a diameter between 1.5 and 15 nm and arranged in bundles up to 100 μm long. We anticipate that dense materials prepared from such composite powders could have interesting mechanical and physical properties.