TECHNOLOGY FOCUS - ELECTRICAL POWER AND ENERGY - Preferred Electrode: The metal substrate of the method (M2) is a mesh or a punched or expanded sheet made of nickel. The catalytic layer of the electrode further contains 1-10 g/m2 of rare earths in form of oxides (preferably praseodymium oxide), and optionally 0.4-4 g/m2 of palladium in form of oxide or metal.    TECHNOLOGY FOCUS - INORGANIC CHEMISTRY - Preferred Precursor: In the precursor, the ruthenium nitrate is ruthenium nitrosyl nitrate (60-200 g/l). The aqueous solution comprises at least one nitrate of a rare earth (preferably Pr(NO3)2 (15-50 g/l), and palladium nitrate (5-30 g/l). Preferred Method: The method (M1) involves the following simultaneous or sequential steps of: preparation of a ruthenium solution by dissolution of the ruthenium nitrate in glacial acetic acid under stirring, with optional addition of nitric acid; preparation of a rare earth solution by dissolution of at least one nitrate of a rare earth in glacial acetic acid under stirring, with optional addition of nitric acid; mixing under optional stirring the ruthenium solution with the rare earth solution; and subsequent optional dilution with an aqueous solution of acetic acid (5-20 wt.%). The method further involves a dilution step of the ruthenium solution and/or the rare earth solution with an aqueous solution of acetic acid (5-20 wt.%) before the mixing step.    TECHNOLOGY FOCUS - METALLURGY - Preferred Components: The metal substrate of the method (M2) is made of nickel alloy.    TECHNOLOGY FOCUS - ORGANIC CHEMISTRY - Preferred Precursor: In the precursor, the concentration of acetic acid is 35-50 wt.%. EXAMPLE - A test precursor was formed as follows. An amount of Ru(NO)(NO3)3 corresponding to Ru (100 g) was dissolved in glacial acetic acid (300 ml) with addition of few ml of concentrated nitric acid. The solution was stirred for 3 hours keeping temperature at 50 degrees C. The solution was then brought to a volume of 500 ml with 10 wt.% weight acetic acid to obtain ruthenium solution. Separately, an amount of Pr(NO3)2 corresponding to Pr (100 g) was dissolved in glacial acetic acid (300 ml) with addition of few ml of concentrated nitric acid. The solution was stirred for 3 hours keeping temperature at 50 degrees C. The solution was then brought to a volume of 500 ml with 10 wt.% acetic acid to obtain rare earth solution. The ruthenium solution (480 ml) was mixed to rare earth solution (120 ml) and left under stirring for 5 minutes. The thus obtained solution was brought to 1 L with 10 wt.% acetic acid, to obtain the precursor. A mesh of nickel 200 of 100 mmx 100 mmx 0.89 mm size was subjected to process of blasting with corundum, etching in 20% HCl at 85 degrees C for 2 minutes and thermal annealing at 500 degrees C for 1 hour. The precursor formed was then applied by brushing in 6 subsequent coats, drying treatment was carried out for 10 minutes at 80-90 degrees C, and involved thermal decomposition for 10 minutes at 500 degrees C after each coat until obtaining a deposition of 11.8 g/m2 of Ru and 2.95 g/m2 of Pr. The sample was then subjected to a performance test, showing an ohmic drop-corrected initial cathodic potential of -924 mV/normal hydrogen electrode (NHE) at 3 kA/m2 under hydrogen evolution in 33% NaOH, at 90 degrees C, which indicated excellent catalytic activity. The same sample was subsequently subjected to cyclic voltammetry in a range of -1 to +0.5 V/NHE at 10 mV/second scan rate. After 25 cycles, cathodic potential was -961 mV/NHE, which indicated excellent current reversal tolerance. A comparative electrode was formed as follows. A mesh of nickel 200 of 100 mmx 100 mmx 0.89 mm was subjected to a process of blasting with corundum, etching in 20% HCl at 85 degrees C for 2 minutes and thermal annealing at 500 degrees C for 1 hour. The mesh was then activated by applying RuCl3 in nitric solution by brushing at a concentration of 96 g/l, drying treatment was carried out for 10 minutes at 80-90 degrees C, and involved thermal decomposition for 10 minutes at 500 degrees C after each coat until obtaining a deposition of 12.2 g/m2 of Ru. The sample was then subjected to a performance test, showing an ohmic drop-corrected initial cathodic potential of -942 mV/NHE at 3 kA/m2 under hydrogen evolution in 33% NaOH, at 90 degrees C, which indicated fair catalytic activity. The same sample was subsequently subjected to cyclic voltammetry in a range of -1 to +0.5 V/NHE at 10 mV/second scan rate. After 25 cycles cathodic potential was -1100 mV/NHE, indicating modest current reversal tolerance.