During the 19th century, most of the mining peasants – whose task was to produce pig iron – gradually lost control of both iron ore mines and pig iron production. However, a few worked as local bankers. By lending money and goods, they managed to continue production. They profited from their colleagues, and over time became mining peasant capitalists, known as pig iron merchants. This is revealed in a history thesis from the University of Gothenburg, Sweden. The mining peasants were farmers who, alongside their agricultural work, also carried out mining and produced pig iron from ore. During the 17th...