How to fit a 16mm bushing to a 5/8" hole?

[Deadeye]

I need to fit a 16mm bushing into a 5/8" hole (making grinder wheel fit axle).

The problem arises because the inner bore (12mm) needs to fit a metric shaft and I can't find a 5/8" x 12mm x 25mm sleeve (well, I can, but it's almost £100 shipped from the US).

I'd prefer to sand down the outside of the bushing because a) I can spin it on a 12mm shaft quite easily to grind b) it's bronze and the wheel is in stainless c) it'll be hard for me to precisely find the centre of the hole to drill concentrically in the wheel and d) the bushing is disposable and I'd probably rather not modify the wheel (future resale etc).

Firstly, is there any compelling reason to do it the other way and modify the hole not the bushing?
Secondly, what's the best approach? It's oilite so I know not to spin too fast. Sneak up on the diameter with fine sandpaper on a flat bar?

The bushing is actually going to act just as a spacer sleeve - the whole assembly turns with the shaft.

Any clever tips?

Thanks in advance

 

[Distinterior]

You've only got to remove 0.12mm from the dia of the bushing, so unless I'm missing something, you should be easily able to reduce the Olite bushing in size with abrasive paper....?

 

[bp122]

Can you use a 16mm reamer (borrowed from a friend or a machine shop) to enlarge 15.875 to
16mm?

 

[Deadeye]

You've only got to remove 0.12mm from the dia of the bushing, so unless I'm missing something, you should be easily able to reduce the Olite bushing in size with abrasive paper....?

That's what I'm hoping. Would certainly seem easier than widening the bore