well cast iron is a shiny material when polished, the graphite within the iron helps it stay smooth, and when well buffed after applying it will not leave much free graphite on the surface. Look at the colour of a cast cam lobe in an engine, that is quite silvery.
The type of cast and treatments in a cam lobe are vastly different to the low grade cast of a fireplace, I doubt the surface of the latter would lend itself to polishing given the grainy structure of the cast
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