A process of producing an unfired, refractory, basic composition consisting essentially of refractory material of either magnesia, dolomite, lime or mixtures thereof, together with a carbonaceous binder and elementary carbon by mixing the refractory material with the carbonaceous binder and the elementary carbon, which comprises using an amount of elementary carbon in dependence on the Fe.sub.2 O.sub.3 content of the refractory material so that elementary carbon is used, based on the weight of the refractory material, in an amount of from 0.8 to at most 1.5% if the Fe.sub.2 O.sub.3 content is below 0.5%, in an amount of from 1.05 to not over 1.75% if the Fe.sub.2 O.sub.3 content is 0.5 to 2.5%, in an amount of from 1.3 to at most 2.0% if the Fe.sub.2 O.sub.3 content is above 2.5 to 4.5%, and in an amount of from 1.8 to not more than 2.5% if the Fe.sub.2 O.sub.3 is above 4.5%.