Another story you could do:
After a massive cave in crushes the forge and the other miners, a single off-duty miner must go on an elaborate quest (involving nobles, caverns, and magma) to recover the last pickaxe in the fortress.
Of course, once he finally succeeds, a several migrant miners arrive with their own pickaxes.
One of the major reasons I feel many Point and Click Adventure games fall flat is they forget that they are ultimately telling a story (to the extent that I consider the closest genre of games to Point and Click Adventure games to be Visual Novels and interactive fiction, instead of Puzzle games like most people suggest.) and attempt to simply make a character go through hoops without any real context except beating the game. For the most part puzzles in Adventure games arn't THAT good in it of themselves and it is how the puzzles interact with the story and feeling of the game that really makes them shine.
-The other reason they fall flat, outside of just being lousy, is where they forget that their game is supposed to ultimately be an interactive story and thus while they have story, often good story, they end up putting the puzzles on the side where they can't hurt the story. As well Puzzles in most Point and Click adventures also highlight the main character's strengths and weaknesses as it shows their own intelligence and creativity (or just flat out insanity and sociopathy) and "whatever" puzzles don't feel like they apply to the main character and thus leads to weaker characterisation.
Which is the major problem with one bit stories is that it ultimately just leads right back to this and also why I think Point and Clicks are very hard to pull off.
Your idea isn't bad, don't get me wrong, I just wanted to explain my views on how stories function within a point and click setting. Heck one of my original ideas was where you were a Human Ambasidor (you being human for sequel reasons) as a fortress is attacked by a goblin (or if I went the comedy route... Goblins, Humans, Elves, and Kobolds at once) army and the fortress has to close itself off. Unfortunately things start to fall appart as the fortress starts going mad and you need to find a way out. I thought this setting would work excellently in what should essentially be a death prone game as well as giving a good excuse for exposition to be placed on the main character.
Thus the Three Pillars of Point and Clicks are: Plot, Setting, and Character.
Though from what I understand the desire for a Dwarf protagonist is strong. I guess I could do what Kings Quest did.