Cutter back at last with nickel and iron (5)
I believe the answer is:
knife
'cutter' is the definition.
(I know that knife is a type of Die)
'back at last with nickel and iron' is the wordplay.
'at last' indicates one should take the final letters.
'with' is a charade indicator (letters next to each other).
'nickel' becomes 'Ni' (Ni is the chemical symbol for nickel).
'and' says to put letters next to each other.
'iron' becomes 'Fe' (Fe is the chemical symbol for iron).
The last letter of 'back' is 'k'.
'k'+'ni'+'fe'='KNIFE'
(Other definitions for knife that I've seen before include "Cutting tool" , "Lethal weapon" , "Eating utensil" , "Carver" , "Potential weapon" .)