A powder metal compact is disclosed. The powder metal compact includes a substantially-continuous, cellular nanomatrix comprising a nanomatrix material. The compact also includes a plurality of dispersed particles comprising a particle core material that comprises Mg, Al, Zn or Mn, or a combination thereof, dispersed in the nanomatrix and a solid-state bond layer extending throughout the nanomatrix between the dispersed particles. The nanomatrix powder metal compacts are uniquely lightweight, high-strength materials that also provide uniquely selectable and controllable corrosion properties, including very rapid corrosion rates, useful for making a wide variety of degradable or disposable articles, including various downhole tools and components.