Let me drop some lore on ya:
The place is called O'ghomoro Volcano (not sure on the spelling). It is the homeland to both the Kobolds and the Hellsguard Roegadyn. They both have settlements inside the volcano and fight over the territory for religious reasons. The Kobold see it as the resting place of their Primal God (Titan), while the Roegadyn believe the Volcano houses a portal to Hell, and they've pledged to guard it and make sure a certain mighty Demon (Titan) never comes through.
One of the entrances to the Volcano is U'ghamaro Mines, and presumably, the mines were going to be an instanced dungeon where you fought Titan as the boss. Titan was going to be the first Primal battle and his model has been in the game since launch, but they decided to postpone the Titan battle because they thought it would be insensitive to Japanese players still recovering from the earthquake.
Hope that answers your question, and then some.
