The Covenant of Iron is a mix of races primarily human and goblinoid. Motivated primarily by monetary goals, the CoI sequester their fortresses and protect their lands visciously against any who would rob them.
They are slow to mobilize for war but maintain stalwart defenses against antagonists of all sizes.
Their forces loyalties are derived primarily via fear and might and bought off where intimidation fails.
The CoI trades quite a bit with surrounding territories until such time that they raid and take over. Their mainstays are raw and refined ores as well as being the worlds best source for decommissioned ships.