Lava rune

Lava runes are combination runes. They count as two separate runes: one Fire rune and one Earth rune. Thus, any spell requiring one Fire rune, one Earth rune or both will spend only one Lava Rune. They can be purchased from the Mage Training Arena, North of the Duel Arena.

Dropping monsters

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Creating the Rune
Level required to craft lava runes is 23. It can be done in two ways: Tiaras can't be used in place of talismans while crafting combination runes. The talisman is consumed during crafting, unless the player uses the Lunar spell Magic Imbue.
 * using fire rune together with fire talisman and pure essence at the earth altar
 * using earth rune together with earth talisman and pure essence at the fire altar

Using a Binding necklace, you will have a 100% chance of creating lava runes.

Miscellaneous

 * Lava Runes are used for the quest Swan Song.
 * 100 Lava runes are also required to build a Volcanic habitat in a POH's Menagerie.
 * The Lava battlestaff provides an infinite amount of these runes when equipped.