A material, and a process for producing same, for fabricating components of valve-actuating mechanisms of internal combustion engines, the material comprising an iron-base sintered alloy, which comprises, by weight: 2-7% Cr (chromium); 0.1-1.5% Mo (molybdenum); 0.5-7% W (tungsten); 0.1-3% V (vanadium); and 0.5-3% C (carbon). Upon being subjected to a slide-contact with another member, the material exhibits a high degree of abrasion resistance and at the same time is capable of effectively protecting the material of a member operatively cooperating therewith in slide-contact. The material is thus highly suitable for very frequent slide-contact with a cam member or the like.