īśvarera śaktye - by the energy of the Supreme Personality of Godhead; sṛṣṭi - creation; karaye - does; prakṛti - material energy; lauha - iron; yena - as; agni-śaktye - by the power of fire; pāya - gets; dāha-śakti - the power to burn.

“Dull matter alone cannot create anything. The material energy produces the creation by the power of the Supreme Personality of Godhead. Iron itself has no power to burn, but when iron is placed in fire, it is empowered to burn.