It's iron oxide, (the yellow slime he collected from the swamp) iron oxide can be found in most swampy areas, he then turned it into metal with his forge.
It's a bit of a hobby people are doing now, going into the bush and trying to survive like cavemen, purists like this dude only use materials and tools that he can find or make in the bush, you can see the hut he made in the background that was a previous episode.
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