A procedure for the production of activated shungite by the carbonization and activation of shungite rock from the Bakyrchik deposit subjected to flotation concentration is presented. The elemental composition of the test sample was determined and the surface morphology was studied; the type of shungite carbon modification was revealed, and its structural and functional characteristics were given. The main physicochemical characteristics of the sample were determined. It was found that carbon materials with a more developed and ordered surface structure and increased porosity can be obtained as a result of the flotation enrichment of shungite and its subsequent thermal activation. With the use of the BET method, it was established that the thermal and steam–gas activation of shungite leads to a significant increase in the specific surface area of the sample and in the specific pore volume and to a decrease in the average pore size.