A rotary rock bit is constructed from a multiplicity of individual segments. Each individual segment includes two parting faces and a gage cutting surface. The individual segments are positioned adjacent each other with the parting faces of the adjacent segments in abutting relationship to one another. A ring gage is positioned around the segments and the individual segments are moved relative to one another causing the parting faces of an individual segment to slide against the parting faces of the adjacent segments. The segments are moved until the gage cutting surfaces of the segments contact the ring gage thereby insuring that the finished bit will have the desired gage size. The segments are welded together over a substantial portion of the parting faces.