Red graphite, if so found in nature, is simply a mixture of graphite and red clay and therefore not as good a pigment, as the mixtures sold in practise to consumers, who specify the material for use on structural iron. A good durable paint of that name is prepared as follows:

Red Graphite Paint (Liquid Form, Ready For Use.)

Thin 100 pounds of above paste with 10 gallons double boiled linseed oil and 2 gallons strong brown japan, resulting in 19 gallons of paint, weighing fully 10 pounds per gallon, covering well in one coat.