The jewelled black iron ring is an uncommon and rare reward from the Squeal of Fortune. It has 25 charges. Charges are consumed when mining with the ring equipped and Evryn appears. Upon his arrival, Evryn will give the player 2 to 4 Dwarven black iron ore. Evryn appears every 9–11 minutes of mining. In addition, it is possible that three charges will be used, and 6 to 12 of the ore will be obtained. It is possible that the player will receive a Dwarven black diamond. This uses one charge. After the jewelled black iron ring reaches zero charges and the player continues to mine whilst wearing it, one more charge will be used and the ring will be destroyed. It is possible to start mining and when you get your Dwarven black iron ore you may leave and come back within 9–11 minutes and repeat this process. You do not have to mine the entire time. This is the most efficient way of using all of your ring charges without wanting to train mining.
The update history project is a work-in-progress – not all updates to this topic may be covered below. See here for how to help out!