A series of compounds with the general formula (Cu 65 Ni 20 Fe 15 ) 100-x O x , with x = 0.3, 1.4, 3.3 and 7.2 were prepared by high energy ball milling and evaluated as oxygen-evolving anodes for aluminum electrolysis. In a first step, elemental Cu, Ni and Fe powders were milled together to form a face-centered-cubic (fcc) phase (γ-phase). Then, the milling operation was resumed in presence of the desired amount of oxygen. Upon heat-treatment at 1000 • C during the subsequent powder consolidation, the added oxygen reacted with Fe to form Fe 2 O 3 . Aluminum electrolyses conducted for 20 h in low-temperature (700 • C) KF-AlF 3 electrolyte at an anode current density of 0.5 A cm −2 showed that the electrode stability and aluminum purity are strongly dependent on the amount of oxygen added. The best results were obtained for x = 1.4. In that case, the cell voltage was stable at ca. 4.0 V and the Cu, Fe and Ni contaminations of the produced Al and electrolyte were minimal, resulting in an anode erosion rate of 0.8 cm year −1 . In this case, the size, dispersion and concentration of Fe 2 O 3 precipitates in the consolidated powder were optimal to give rise to the formation of a protective NiFe 2 O 4 -rich layer.