A cutting tool having a sintered compact including 30 to 80 vol. % cubic boron nitride and a binder phase, wherein the binder phase includes about 2 to about 6 vol. % ZrN, is disclosed. In more specific examples, the cutting tool has a sintered compact including 30 to 80 vol. % cubic boron nitride, between about 4 vol. % and about 15 vol. % aluminum and/or aluminum compound and/or aluminum alloy and/or combinations thereof, and a binder phase, wherein the binder phase includes TiN and about 3 to about 5 vol. % ZrN, and wherein the cubic boron nitride has a grain size of less than 20 microns. Cutting tools of the disclosed composition display improved performance, particularly at higher operating speeds, e.g., about 200 m/min or greater.