Abstract: Disclosed are a magnesia-calcium oxide refractory product comprising (i) about 100 parts by weight of a refractory aggregate consisting essentially of about 20 to about 95% by weight of MgO and about 80 to about 5% by weight of CaO and (ii) about 0.5 to about 5 parts by weight of aragonite-type calcium carbonate, and a process for preparing the same.