Mold tooling formed of suitable iron-nickel alloys and provided with a hard electroless nickel coating on the mold cavity surface are useful for high volume production of carbon fiber reinforced, polymer matrix, composites. The iron and nickel alloy provides thermal expansion properties for the molding of dimensionally accurate parts. The nickel alloy coating provides a durable surface, without adversely affecting the expansion properties of the mold, and remains adherent to the base metal during the repeated thermal cycling encountered in high volume production of substantially identical molded carbon composite parts.