blacksmith's workshop; smithy; forge
Refers to the physical workshop where a blacksmith works, including the forge and tools. Foundry is a possible but less common translation; 鍛冶場 typically implies ironworking rather than casting.
At the village smithy, they still make swords.
You can hear the sound of hammering iron coming from the forge.
工房 is a general term for a workshop or studio, not limited to metalworking.
鍛冶 (kaji, 'smithing') + 場 (ba, 'place'). The reading かじ is the native Japanese word for smithing, and ば is the rendaku form of 場.