Abstract Fast cooling leads to the formation of metastable phase equilibria in the Al-rich part of the Al –Nd –Ni system. The metastability is characterized by a suppressed formation of the ternary τ1 phase. The stable Al –La – Ni system is similar to the Al –Nd– Ni system but without the existence of a τ1 phase. For comparison, this system is investigated. The results are represented as isopleths, liquidus surface projections, and reaction schemes. A fine-grain ternary eutectic morphology with enhanced hardness can be produced by rapid cooling in both ternary systems; the ideal chemical composition of this morphology depends on the cooling rate.