Most of the alloys used as bonding matrix in diamond tools show a high content of cobalt -which is undesirable due to a series of reasons. In the last decade, some attempts were made towards the reduction of the Co content in these alloys. NEXT100J alloy (50wt%Cu-25wt%Fe-25wt%Co) by Eurotungstene is an example of it.This study aims to characterize the structure, microstructure and some mechanical properties of the NEXT100 -this is an comercial alloy widely used as bonding matrix for diamonds in cutting tools, and the informations about its properties are very scarce in the literature.The NEXT100 powder was hot pressed in a graphite matrix at 35MPa/800 C/3 minutes. It was performed structural and microstructural analyses by x-ray diffraction and scanning electon microscopy, respectivelly. Wear resistance and hardness HRB tests were carried out -these are the most important mechanical tests for a diamond bonding matrix. It was demonstrated that the samples presented good mechanical properties, XRD analysis showed the presence of two phases, Cu (CFC) and the solid solution a-Fe (CCC). Microstructural aspects are high densification, homogeneous distribution of phases, and little presence of pores.