NOVELTY - Preparation of oxygenated lower aliphatic compounds involves applying a gas to a catalyst formulation under reaction conditions. The catalyst formulation is a solid comprises: an active metal selected from Pd, Pt, Rh, Os or Ir; a mixed metal component comprising at least one of a metal A selected from La, Ce, Sm and a metal B selected from Ti, Zr, Hf; and a promoter.    USE - For preparing oxygenated lower aliphatic compounds e.g. alcohols such as ethanol, propanol or butanol (claimed).    ADVANTAGE - The selectivity for conversion of the carbon monoxide to the oxygenated lower aliphatic compound is greater than 50 (preferably greater than 70)%.    DETAILED DESCRIPTION - Preparation of oxygenated lower aliphatic compounds involves applying a gas to a catalyst formulation under reaction conditions. The catalyst formulation is a solid comprises: an active metal selected from Pd, Pt, Rh, Os or Ir; a mixed metal component comprising at least one of a metal A selected from La, Ce, Sm and a metal B selected from Ti, Zr, Hf; and a promoter. The promoter is selected from Li, Na, K, Rb, Cs and Fr. The gas comprises a mixture of carbon monoxide and hydrogen that react under the reaction conditions in the presence of the catalyst formulation to form an oxygenated lower aliphatic compound. INDEPENDENT CLAIMS are included for the following:    (1) preparation (P2) of a catalyst formulation involving: process A: mixing powdered oxides, carbonates or hydroxycarbonates of at least two of the metal A, the metal B and the metal C; and impregnating the mixture with a solution of a soluble salt of the active metal; process B: mixing a solution of a soluble salt of at least one of the metal A, the metal B, and the metal C; with an alkaline salt of at least one of the others of the metal A, the metal B and the metal C to form a precipitate; and impregnating the precipitate with a solution of a soluble salt of the active metal; process C: autoignition of a mixture of salts of metal A and metal B, and impregnating the resulting preparation with suitable forms of the active metal, the metal C and the promoter; process D: mixing solutions of soluble salts of the metal A and the metal B, gelling the mixture with an acid, and impregnating the resulting preparation with the metal C, the active metal and the promoter; and    (2) manufacturing lower aliphatic alcohols from a mixture comprising carbon monoxide and hydrogen involving reacting the mixture in the presence of the catalyst formulation.