Skutterudite $CoSb_3$ powders were produced by mechanical alloying (MA) of elemental powders using a nominal stoichiometric composition. Annealing of MA powders under specific condition led to a complete phase transformation to a semiconducting ${delta}-CoSb_3$. Single phase $CoSb_3$ was successfully produced by vacuum hot pressing using MA powders without subsequent annealing. Phase transformations during mechanical alloying and hot pressing were systematically investigated using XRD and SEM. Thermoelectric properties as a function of temperature were evaluated for the hot pressed specimens and compared with results of analogous studies.