Carbon nanotubes are known to be metallic or semiconducting, depending on their helicity and diameter. However, boron nitride (BN) nanotubes are the only nanotubular product known to date that are predicted to have stable insulating properties that are independent of their atomic structure and morphology. Thus, the BN tube has attracted prime attention as an advanced nanoinsulating shield for all types of encapsulated conducting material, i.e., metal wires, clusters, etc. However, so far there have been no successes in controlled one-dimensional filling of BN nanotubes with conductive material. We report the first experimental results on the synthesis, high-resolution transmission electron microscopy, energy dispersion X-ray analysis, and electron energy loss spectroscopy of BN nanotubes that are filled with Mo clusters over their entire length. This was accomplished by means of two-step thermochemical treatment of chemically vapor-deposited C nanotubes with B2O3, CuO, and MoO3 oxides in a flowing N2 atmosphere. The first examples of BN nanotubes filled with molybdenum clusters are reported and the formation of the first nanocable (approximately 10 nm in length), consisting of a conductive metal core and an insulating BN nanotubular shield is demonstrated.