The purpose of the invention is a process for making a solid part designed to form all or part of an anode for the production of aluminium by fused bath electrolysis, containing a cermet formed from at least one metallic oxide such as a mixed oxide with spinel structure, and at least one metallic phase, in which a mixed oxide is used containing a metal R in the form of a cation in its chemical structure, the said metal R being fully or partly reducible by a reduction operation during the manufacturing process, so as to form all or part of the said metallic phase. This process can provide a cermet with a uniform distribution of fine metallic particles.