Here it is. I apologize for the odd spacing on this page. I messed with it for a while but could not make it look good. Anyway, I'm not entirely happy with this translation, particularly because I often omitted tense markers for the sake of the rhyme scheme. I suppose that is acceptable because poetry tends to not perfectly follow grammar, but it still annoys me. Ending rhymes are a chore in Dwarven due to the amount of affixation, so I think I want to try making the beginnings of lines rhyme instead of the ends. Also, I wonder whether I should have translated "when the hammer falls" as "Nil umid-zilir". That's the imperative form, so the singer is commanding the hammer to fall. In English that would be something like "Fall, hammer!". I refer to orcs as Omer, which simply means green or greenness.
Do you truly intend to sing this? Considering Dwarven has no pronunciation rules, I'm not sure what you could do about the special characters (ú, â, î, etc.). I can tweak the translation if it seems awkward. Some of the lines don't rhyme very well, e.g. "Nil obot-udiz lok stukón Gedorêsik". In that line, udiz and êsik are supposed to rhyme. I pronounce every i with an "ee" sound, as in "feel", so the rhyme works somewhat if I stress the vowel and suppress the consonants.
down in the deep where the dragon used to sleep Urtak Thol'ok Tangak'ok 'Zustmåmgoz' (downward in the deep at the spot dragonbed)
glorious gold glimmers in our home of old Limul rab-udiz Zustashbom'ok-longArkim (gold glows in the dwarves' ancient home)
dark as the night where the day has lost its light Anan'osh'ol 'Umom sog-udiz Lotol' (like the night where darkness conquers order)
when the hammer falls Nil umid-udiz (the hammer falls)
when the hammer falls and it sounds through the halls Nil umid-udiz lok sárek Îton'iz (the hammer falls and echoes around the halls)
when the hammer falls freeing treasures from the walls Nil umid-udiz lok eshim Idräthïngiz (the hammer falls and frees the treasure ceiling)
when the hammer strikes and the kingdom comes to life Nil abod-udiz lok Osor emenasiz (the hammer strikes and the kingdom strongly flashes)
when the hammer pounds like the thunder underground Nil sárek-udiz Amud'osh Tholonol'iz (the hammer echoes like thunder around the deep mountain)
when the hammer falls Nil umid-udiz (the hammer falls)
when the hammer falls Nil umid-udiz (the hammer falls)
of legend and myth is the craft of the smith Eshtân lok Rigòth var-udiz Gomathoth (smiths and crafts are a legendary knot)
the molten metal poured and pounded into sword Stesokkel meban-ver lok ver-udiz deler (molten metal is streamed and becomes steel)
from the fire is made every dwarven axe and blade Mulonarkimlibash rigòth-ver Ziril'ach (every dwaren axe is crafted after fire)
when the hammer falls Nil umid-udiz (the hammer falls)
when the hammer falls forging weapons for all Nil umid-udiz lok rigòth Umstiz'iz (the hammer falls and crafts during the sizzle)
when the hammer falls songs of battle fill the halls Nil umid-udiz lok Osal lar-ver Anriz (the hammer falls and songs are met by the sky)
when the hammer flies lines of armored dwarves arise Nil umid-udiz lok Arkim locun-udiz (the hammer falls and dwarves rise)
with the hammer's roar we go marching off to war Nil orrun-udiz lok sog-zalud Alnis'iz (the hammer roars and will conquer during the war)
when the hammer falls Nil umid-udiz (the hammer falls)
when the hammer falls Nil umid-udiz (the hammer falls)
the orcs came to our land and we fought them hand to hand Omer ùst-geth Nïr'üf lok Emenarkim bardum (greenness breached through the land and strong dwarves fought)
sweat and blood turned the ground to mud Faknazush artob-geth Ol'ish (drained blood combined between the mud)
dwarf and orc in strife sought to vanquish every life Ùzoluth stin'ok vunsch-geth Nïngthunenngilok (combatants in strife wished burning life evisceration)
when the hammer falls Nil umid-udiz (the hammer falls)
when the hammer falls back our enemy crawls Nil umid-udiz Ùlur'ag Nistrur'iz (the hammer falls on haters during retreat)
when the hammer quakes orcish cowards' bones will break Nil ùshrir-udiz Okabomerosod'iz (the hammer quakes around broken green bones)
when the hammer cracks and beats their armies back Nil obot-udiz lok stukón Gedorêsik (the hammer cracks and squashes evil troopers)
when the hammer's boom sends the monsters to their doom Nil ozkak-udiz Shithath-longUshangasiz (the hammer carries perishing of the monstrous flash)
when the hammer falls Nil umid-udiz
when the hammer falls Nil umid-udiz
when the hammer falls then our victory calls Nil umid-udiz lok Stanïr un-udiz (the hammer falls and the wreath approaches)
when the hammer falls songs of glory fill the halls Nil umid-udiz Shinosal'esh Îton'iz (the hammer falls with bright songs around the hall)
when the hammer flies mighty heroes will arise Nil gigin-udiz Riraslocunobur'iz (the hammer flies around the greater rising hero)
with the hammer's sound live the dwarves down underground Osal'esh-longNil Arkim var-udiz Riril (with the hammer's song dwarves are a fellowship)
when the hammer falls Nil umid-udiz (the hammer falls)
when the hammer falls Nil umid-udiz (the hammer falls)