The process of removing a multicomponent binder from a metal powder compact has been investigated. Model experiments of debinding were performed on compounds consisting of less than 40vol% binders (low molecular weight polyethylene, paraffin and Carnauba; waxes) and more than 60vol% metal content. As typical representatives for injection moulding morphology and meeting all other requirements for optimal powder characteristics, elemental powders of the Fe-Al system were used. Viscosity results over a wide range of shear rates for various plastisols are presented as functions of binder system composition and metal powder content. Based on the theological response, an optimization of plastisol formulation was performed. Results are reported on three series of debinding modes using heat and fluid wicking in air and in nitrogen. The time dependence of fractional debinding, x(t), during wicking has been estimated using a model. Direct observation by SEM of binder distribution and pore structure evolution at different stages of the debinding process was made. Wick-assisted thermal debinding in nitrogen proved to be an effective debinding method in terms of shape preservation and the absence of defects in the studied material.