A composition having high density and low toxicity suitable for use as a shotgun pellet, a bullet or armor piercing projectile and a method for manufacturing such composition is described. This material and product are developed to economically address the toxicity problems inherent in lead shot and bullets. This composition, in its present embodiment, is also suitable for use in any product requiring high-density and low toxicity. One present embodiment maintains the magnetic properties of the projectile if desired.