A mine owner sells iron to a British smith who smelts it into steel to sell back to the colonists was most likely motivated by the system of mercantilism.
Mercantilism is an economic system that favors the development of domestic business and industry over the development of foreign business and industry. Mercantilism was the cooperative relationship that existed between a country's business and trading classes and its government. Domestically, mercantilist governments encourage investment, lower taxes, and other benefits for domestic industries while shielding them from foreign competition through tariffs and other trade restrictions. Internationally, mercantilist governments protect access to raw materials and markets by maintaining strong armed forces, large navies, and merchant shipping. The system of mercantilism most likely motivated a mine owner to sell iron to a British smith who smelted it into steel to sell back to the colonists.
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