The authors suggest considering shungite carbon (shungite) as a natural carbon allotrope with a multi-level fractal structure produced by consecutive aggregation of ~1 nm thick reduced graphene oxide nanosheets. Turbostratic stacks of ~1.5 nm thick and ~2.5 nm wide sheets and the globular composition of the stacks, ~6 nm in average linear size, are responsible for the secondary and tertiary levels of the structure. Aggregates of globules, measuring tens of nanometres, complete the structure. The molecular theory of graphene oxide and the empirical knowledge of graphene obtained by modern science have provided the basis for the new vision of shungite proposed by the authors. The microscopic concept of the structural arrangement of shungite carbon has been strongly supported by the analysis of the empirical data obtained by quantum-chemical modeling. It is for the first time that the product of a geological process is described on the quantum level.