The present invention was made to develop a new material possessing simultaneously the two properties of geometrically frustrated state having a magnetic controllability and good conductivity which leads to applications for electrical controllability and thermal storage. This object is achieved by the conductive material having the pyrochlore structure represented by the general formula R₂Ir₂O₇, where R is a rare earth element or elements of La, Ce, Pr, Nd, Pm, Sm, Eu, Gd, Tb, Dy, Ho, Er, Tm, Yb, Lu and Y. When, especially, R is an element or elements of La, Ce, Pr, Nd, Pm, Sm and Eu, the material possesses metallic electrical conductivity, so that it is useful for magnetically controllable functional electronic materials and thermal storage materials having large thermal capacity.