Ifrit's Cauldron is not too terribly difficult to mine. As Kujata mentioned, all levels can get aggro there, so in most cases, a mid-level character has about as much chance of succeeding as a high-level character.

I mined there as a White Mage for about 2 weeks straight. Because the bombs aggro magic, there were very few places where I could cast the spell invisible--I ended up burning through several stacks of Prism Powder.

The mining points are not too difficult to locate. They spawn almost (key word being almost) exclusively in the caves. I had memorized most of the mining points within a day or two. A map of all the mining points is hardly necessary. To get to the vast majority of the mining points, however, you will have to pass through a Flame Spout. This randomly goes away at times, but sometimes it can take several hours. Trading an ice cluster to the flame spout will make it go away for long enough to make it through. The flame spout is guarded by a bomb, so you will have to time it right to get through safely.

Most of the mining points are not too terribly difficult to mine. The bombs tend to wander away if you give them enough time. Sometimes they don't, so your timing is key. I found that if I waited for them to look away, I could get at least 3 hits in before they started moving again. Macros for using the pickaxes and the Prism Powder came in handy here (/item "Pickaxe" <t> and /item "Prism Powder" <me>).

The mining areas are populated mostly with bombs, so I found myself using Prism Powder much more often than Silent Oil. Still, you'll need Silent Oil for the bats, raptors, hecteyes, and maybe wyverns if you go through those areas. The bees and lizards do not aggro.

By the way, it seems like Ninjas may have a huge advantage here. I'm not sure if Tonko:Ichi is technically considered magic, but if it is not, then I would assume that the bombs would not aggro it. Using this would be a lot cheaper than investing in Prism Powders. Additionally, if the Ninja gets aggro, then their 2-hour ability is an easy way out.

Finally, I would also keep a macro handy for Warp or using a Instant Warp scroll. I found that as a Level 50 White Mage, I could almost always get Warp off in time to save myself if I got aggro (depending on which bomb hit me, I would last 2-5 hits).