Graphite, a versatile mineral, has been integral to various applications over centuries and is now indispensable in many industrial and technological fields. Naturally occurring in igneous and metamorphic rocks, it forms mineral deposits exploited by the mining industry. Graphite is utilized in both traditional industries, such as pencil production, electrodes for electrochemical processes, and dry lubricants, and in modern sectors, including electric vehicle batteries, energy storage devices, and as a key material for graphene production. The field of nanotechnology has further underscored graphite’s exceptional properties, particularly through the production of graphene, which continues to drive scientific research and technological innovation. As a critical mineral, its demand is escalating, driven by the shift toward clean energy and the expanding electric vehicle battery market. This highlights the need for innovative and sustainable strategies for graphite extraction and resource management. While Brazil remains a significant mineral producer, it faces production challenges compared to countries like China, the global leader. This paper reviews graphite’s properties, applications, and technological advances, and also discusses production processes, global supply, and economic trends.