It's a BM 970. It's probably ATS-34.
While steel, ATS-34 is not attracted by common magnets, so you may perceive it as non-magnetic (most stainless steels are this way).
However, a limited number of those were made of Titanium.
The original design was by Emerson. The US Navy wanted to buy a large number of them with Ti blades for munitions work, larger than Emerson's shop could provide. So, the idea of having Benchmade make them was born. But, the Navy's order, while to large for Emerson's own shop, was to small for Benchmade to tool up their factory for at a reasonable cost. But, Benchmade suggested that they could do the job if they could also market a civilian version of the knife. A deal was struck and the rest, as they say, is history.
Most of those sold in the civilian market were ATS-34 stainless steel since Ti doesn't take or hold a good edge. But, a Ti blade was an unpopular option for civilian customers.
The legendary firearms manufacturer H&K had BM make a special batch of these with their logo on them to use as tradeshow trinkets. They even offered a boxed set featuring the knife and one of their USP pistols in a fitted box. It's the sort of gift pack that you wish you'd received instead of that Hickory Farms sausage and cheese box your mother-in-law sent, eh?
There is a rummor that a very limited number of these knives were made for the US Navy Seals with a top-secret alloy that is totally non-magnetic and yet which does take and hold a good edge. According to the rummor, this alloy is so secret that BM had to collect up every shaving and every filing and account for it all. But, then again, you know about rummors
The design is as a combat knife for military use. It's designed, as Emerson's name for it, CQC-7, Close Quarters Combat design number 7, is intended for hand-to-hand combat. It's designed to be easy to open even with gloved hands. It's also designed to be very heavy-duty for a small folding knife.
BM also offered an automatic (switchblade) version, their 9700 which found some popularity with military customers.
However, it is a heavy knife and somewhat, well, one might say, "clunky." For its intended customer, military users for combat use, it's a great design. However, most civilian users found it a bit to large. So, BM ended up discontinuing it. You can still get very much the same knife directly from Mr. Emerson's own company.
