The present invention provides an ODS type material (Oxide dispersion strengthened or particle dispersion) which comprises an alloy metal matrix and a dispersion of strengthening particles distributed therein which provide the same with optimum density and deformability. Said metal matrix is constituted by an alloy of zinc and bismuth, of zinc and aluminium, of tin and bismuth, or of tin and zinc, the strengthening material being of tungsten or ferro tungsten, oxides of both, carbides of both, or derivatives of the same. Said new material can substitute for lead in the production of ecological ammunition, hooks for fishing, inertial counterweights in automobiles, X-rays and ionising radiation screens, golf sticks, water pipes and plumbing fittings, as well as in electrical and magnetic applications. The invention also provides an ecological ammunition manufactured from said composite material, such as, for example, pellets.