Mining is one of the great gathering professions to be able to make WoW gold with. You will be able to become wealth with a couple of producing professions. Skinning and mining are probably among the best professions to make world of warcraft gold faster. Herbalism is a close third. Why? Because they are great money makers as you level up in the game.
Though at times competitive, mining is still one of the best professions early on and sometimes it can be easier than you think. Competitiveness comes from the amount of people are in your server and what percentage of the characters are miners; this is usually determined by the economy and the supply/demand ratio of the server. You can get a sense of the market by checking in the Auction House. There you can check to see what other miners have put up for sale. Once you know what is for sale pay attention to how long it has been up for sale, and pay particular attention to what is selling fast. I'll explain why.

Do not discount a lesser ore, it may actually be in greater demand than a higher grade. If a fel iron is selling at a much faster rate than an Adamantite Ore, then it has greater demand. Even though it will be about five warcraft gold less a stack, the fact that you can sell it faster means a faster means of making gold. Would you rather let an Adamantite Ore sit for a few days before you get paid or sell some lesser ore at 5 times the rate and build your wealth? I call it the fast food versus the fancy restaurant method. Who sells food faster? Who profits more at the end of the month? The fast food joint does!

Again, it's about supply and demand for each individual ore. You need to look in the Auction House first and then plan out your strategy. Remember, the one who actually a plan usually wins in whatever game they choose to play. Strategy is an important element to making some serious cheap WoW gold.