An Author's note to readers.Dust is essentially magical fantasy oil, it's moreso an in-universe catalyst for politics and conflict than a believable substance.
Research is understanding what we can do with what we have. Scholars discovers limit. Engineers tests them. Both understand that everything has boundaries; Dust may the exception to that understanding
Once you gaze upon it's golden shimmer and see what marvels lies within. Dust becomes the most beautiful thing.Dust has the appearance of gold but mundane properties of iron but also incredibly brittle.
Otherwise in it's raw form dust has unpredictable magical properties, altering the fundamental properties of it's environment. Although it can be refined as either a magical fuel source or catalyst for practical applications.
History & Usage
[...] What can you do with Dust? My friend, what can't you do with it? Any advanced applications of magic uses it: from enchantments, to underwater ships, floating cities, and so much more!
Of course the real beauty of dust is in Dust Gems, jewels crafted with a magical purpose. You could use them for safe smoke free light, iron gates that wind themselves up, self driven caravans, and even live longer! With a good Artificer or Animancy the possibilities are nearly limitness. So how many barrels do you want?
Cultural Significance and Usage
Friend, they say dust makes the world go round. And if we're talking about Dust it very well might!
Dwarven Pit Cities in Royeaux
The largest supplier of Dust, accounting for 70% of the global market supply. Additionally the discovery of dust in Dwarven deserts several millennia ago had transformed them into nomadic tribes to a prominent industrial civilization.
The Templar Circle imbue their Justicars with Dust, granting them magical resistance and magic nullifying abilities. As a result of the Justicars, the Templar Circle has gained world-wide prominence, despite their anti-magic beliefs, for their ability to combat the supernatural.
Kassai Trade Coalition
Founded to peddle Dust Products produced in the Dwarven Pit Cities to the world. Owing to the prevalence of Dust in most civilized cities.
Château VerrelIt's prosperity heavily relies on the commercial Dust research that occurs within their academies. As a result of their research and wealth, Dust products are a regular part of their society.
The Origins of DustThe original Dwarves lived underground, being children of the Titans. Whose bodies are earth, and blood is Dust itself. A majority of the Dust found in the Dwarven Pit Cities in Royeaux is actually the spilled blood of the Titans who fought in conflicts long forgotten. 
Origins of the Broken Lords
Only known for their Human proxies and impossible ironclad submarines to the world. The Broken Lords are actually Dust-steel suits of armor animated by Dust Spirits. Once flesh and blood, when an eruption threatened to cover their skies in ash and take the sun from their lands, an elite few forsakened their mortal forms to prevent the noblest family from starving. As a result they turned themselves into eternal lifeless beings sustained by Dust, or the lifeforce of living humanoids.
Origin & Source
Dust is generally found in permeable earth at least 300 feet deep with greater quantities of dust found deeper underground.
Other magical processes and rituals can also create dust but they are always costly and inefficient.
Manufacturing & ProductsDust-steel. A costly yet iron efficient way to create enchanted steel. 
Plasteel. A rare alloy that is incredibly tough yet flexible as plastic while retaining high enchantability and innate magical resistance. 
Magical Equipment. Nearly all enchanting processes uses dust as some form of catalyst or component.
Dust Gems. Jewels that store magic to perform a task, usable by any sentient creature.
My daughter lost her heart and life to Dust mining! Even the Warforged are beggining lose their minds to it. You can't ignore us forever! Dust is dangerous! We demand rights! We demand reparations!Due to the powder nature of Dust. It's often inhaled by miners and with continuous prolonged exposure causes random and occasionally unknown side effects.
Common side effects include but are not limited to constipation, diarrhea, nausea, weight gain/loss, dizziness, hallucinations, seizures, hostility, elation, loss of sight and other sense, magical abilities, mutations, internal bleeding, organ failure, spontaneous combustion and death.