Portfolio Update

BLACKROCK WORLD MINING TRUST plc

All information is at 31 August 2008 and unaudited.

Performance at month end with net income reinvested
                                    One     Three       One     Three      Five
                                  Month    Months      Year     Years     Years
Net asset value* (undiluted)      -3.0%    -19.6%     11.2%    143.8%    320.4%
Net asset value* (diluted)        -2.9%    -19.0%     15.0%    138.2%    306.3%
Share price*                      -2.5%    -19.7%      6.2%    130.5%    306.2%
HSBC Global Mining Index          -2.1%    -16.8%     16.1%    133.8%    252.8%

Sources: BlackRock, HSBC Global Mining Index, Datastream

*Net asset value and share price performance includes the warrant reinvestment,
assuming the 2004 and 2006 bonus warrant entitlement per share was sold and the
proceeds reinvested on the first day of trading.

At month end                                                                   
Net asset value                         Including Income           Capital Only
Undiluted:                                      718.72p#                715.00p
Diluted:                                         711.37p                707.83p
#Includes net revenue of 3.72p                                                 

Share price:                                     598.00p                       
Discount to NAV**:                                15.52%                       
Warrant price:                                    61.00p                       
Total assets***:                              £1,305.51m                       
Net yield:                                         0.50%                       
Gearing:                                           1.83%                       

Ordinary shares in issue (excluding treasury shares):               178,317,729
Warrants in issue:                                                    8,947,605
Ordinary shares held in treasury:                                    14,692,800

** Discount to NAV based on capital only, fully diluted NAV.                   
*** Total assets include current year income.                                  

                                                                               
Sector Analysis                 % Total  Country Analysis               % Total
                                 Assets                                  Assets
                                                                              
Diversified                       52.4   Latin America                    25.6 
Base Metals                       17.5   Global                           19.8 
Industrial Minerals               10.5   South Africa                     12.8 
Platinum                           7.5   Canada                            9.4 
Silver/Diamonds                    5.9   USA                               8.4 
Gold                               4.7   Australasia                       7.0 
Other                              4.5   Indonesia                         4.9 
Net current liabilities           (3.0)  Other Africa                      4.5 
                                         India                             3.8 
                                         Europe                            2.9 
                                         Emerging Asia                     2.8 
                                         Other                             1.1 
                                         Net current liabilities          (3.0)
                                 -----                                   ----- 
                                 100.0                                   100.0 
                                 =====                                   ===== 

                                                                               
Ten Largest Equity Investments                                                 
                                                                               
Company                                                                     
Alcoa                                                                          
African Rainbow Minerals                                                       
BHP Billiton                                                                   
Bumi Resources                                                                 
Impala Platinum                                                                
Minas Buenaventura                                                             
Rio Tinto                                                                      
Teck Cominco                                                                   
Vale                                                                           
Vedanta                                                                        

Commenting on the markets, Graham Birch, representing the Investment Manager
noted:

Market review
The month was once again dominated by negative sentiment towards the
commodities sector, not fundamentals. Sentiment has been driven by fears of a
global recession and a major cooling in China; although China will indeed see
some slowing, we would point out that GDP growth is likely to remain strong
(circa 9% real GDP Growth in 2009 according to IMF consensus, 9.9% for 2008),
which remains bullish for commodity prices. The market has been starved of
accurate information in light of the summer slowdown (traditionally a weak
period for commodities) and the impact of the Olympics upon Chinese consumption
(as many industries were shut down or reduced through the period of the Games).
The provision of solid economic data from China in the coming periods may well
prove to be the catalyst for the market to reflect the value in the sector.

In equity news, Rio Tinto and BHP Billiton announced strong results during the
month and indicated that they see continued strength from China that should
keep commodity prices well supported going forward. It was also interesting to
note that Xstrata made a bid for Lonmin. This is again indicative that the
companies continue to look to M&A as a method of growing production as they
struggle to grow production organically (and means that the sector continues to
struggle to grow net supply). This also serves to highlight that the companies
themselves think they are attractive at current market valuations.

Strategy/Outlook
Chinese domestic demand growth appears to be predominantly resilient to the
slowdown in the developed world and commodity-intensive industries have not
been dramatically impacted recently. China is expected to spend US$9 trillion
on infrastructure over the next decade and emerging markets as a whole are
predicted to spend US$21 trillion; therefore demand growth for commodities is
unlikely to be that severely impacted in the medium term by what is going on in
today's "developed" markets. We anticipate that although volatility is likely
to continue, commodity prices are likely to remain strong and this may prove to
be a record year for earnings in the mining sector. With this in mind and
mining equities currently trading on what are historically very low valuation
multiples, the sector appears to offer interesting opportunities for investors.

Latest information is available by typing www.blackrock.co.uk/its on the
internet, "BLRKINDEX" on Reuters, "BLRK" on Bloomberg or "8800" on Topic 3 (ICV
terminal).

29 September 2008