The give and take of ores for Smithing experience is one thing, but learn from the masters and earn their (begrudging) respect, and there are some other more tangible rewards in it for you, including experience boosts while smithing in the workshop, some glitzy visual makeovers for your own multicannon, and potentially getting hold of your own ceremonial sword.
Map of the Artisans Workshop
The Artisans Workshop can be found in south-east Falador, just over the path from the entrance to the Mining Guild. Talk to Aksel just inside for information about the place. Right there on the ground floor you’ll see the monstrous smelting machine that’s the heart of the workshop. In here you are able to deposit your ores (iron, mithril, adamantite, runite) and coal, and in return collect some ingots in those same metals. All dwarf artisan smithing requires ingots of varying grades (I through IV), with each grade being a purer form of that metal.
All four of the training methods in the workshop require the use of ingots of metal, which are purer than metal bars. To create ingots, simply use some of your ores on the smelter (noted ores are fine) to fill it up, then withdraw some ingots in exchange. You can store up to 4,000 of each ore type in the smelter, and up to 8,000 coal, so you can train at the workshop for a good long while before needing to resupply.