Quickly do Dorics quest and knights sword, then smith 30 iron bars into shields to get 30 smith.
The point of the minigame is that it uses half the coal necessary to make the respective bar, and this is significant.(Rune goes from 8 to 4)
You put all your ores into a machine, which needs to be worked on by a group of people so it pumps out the bars.
As of this second on OSB exchange:
Coal = 188 gp
Iron = 78
Cost of 1 steel bar: 266
Steel bar =469 (This is low as fuck right now because Weath was away last week, and everyone suicided. A normal price would be like 520gp ea)
Profit per bar: 469 - 266 =203gp/bar
Without a coal bag you can run around 1.5k steel bars per hour. 304k/hr on a lvl 3 that's very easy to make.
(These bars are achievable in a world with instant bars, where everyone works together in optimal fashion, and realistic number in W358(bot world) would be like 1k-1.1k bars.)
Coal bag makes your profits go up significantly, but it requires 100 gold nuggets at Motherlode mine, which is about 30-(58-61) mining depending on your luck.