Portfolio Update

BLACKROCK WORLD MINING TRUST plc
All information is at 30 September 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)     -29.8%    -40.6%    -35.1%     45.7%    187.4%          
Net asset value* (diluted)       -29.1%    -39.7%    -30.8%     43.8%    180.6%          
Share price*                     -30.3%    -41.3%    -35.4%     37.2%    173.6%          
HSBC Global Mining Index         -27.7%    -38.2%    -29.3%     45.9%    162.2%          

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:                                      504.32p#                498.85p
Diluted:                                         504.32p                498.85p
#Includes net revenue of 5.47p                                                 
                                                                               
Share price:                                     416.75p                       
Discount to NAV**:                                16.46%                       
Warrant price:                                    29.50p                       
Total assets***:                                £922.37m                       
Net yield:                                         0.72%                       
Gearing:                                            2.5%                       

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                        52.5  Latin America                    29.2 
Base Metals                        16.7  Global                           19.6 
Industrial Minerals                10.3  South Africa                     12.3 
Platinum                            7.4  Canada                            9.0 
Gold                                7.1  Australasia                       8.8 
Silver/Diamonds                     6.4  USA                               8.5 
Other                               4.2  Indonesia                         4.2 
Net current liabilities            (4.6) Other Africa                      4.2 
                                         India                             3.2 
                                         Europe                            2.8 
                                         Emerging Asia                     2.0 
                                         Other                             0.8 
                                         Net current liabilities          (4.6)
                                  -----                                  ----- 
                                  100.0                                  100.0 
                                  =====                                  ===== 

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

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

Market review

September was an unprecedented month in terms of financial market volatility
and events. The collapse of Lehman's, the nationalisation of companies such as
AIG and Fortis, along with the government sponsored bail out of financial
markets all dominated the headlines and drove almost all equity markets down.
The mining sector was among the areas most impacted by these events as it was
affected by the general market deleveraging and flight to cash, but also by
raised fears that global growth (and thus demand for mined commodities) would
be hampered. As such, most commodities sold off aggressively, with the copper
price down 14.5% and the aluminium price down by 10.7% (LME). One area that was
relatively resilient to the sell off was the gold price, which made gains
(+5.2%) on an upturn in demand for the metal as a hedge against the market
uncertainty. The intra-day volatility of this market was extremely high and
there were many events which were very hard to account for - an example being
the decline of Vale (a Brazilian mining company) of 20% in one day despite no
material change in its business. This stock happened to be one of the most
liquid emerging market stocks still trading as the US government bail out was
voted down and suffered accordingly.

Strategy/Outlook

Overall, the fundamentals of the natural resources sector remain broadly intact
but the sector has been caught up in what is an unprecedented period of
uncertainty for global financial markets. We continue to focus on the companies
which we feel will perform strongly and are confident that sense and
fundamental views will return to the fore in due course.

We believe that Chinese domestic demand growth will be resilient to the
slowdown in the developed world. 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 have now reached a point at which equity
valuations in the sector are at an all time low compared to their long term
trading ranges and may be viewed as very cheap. It appears as if the market is
pricing in the worst case scenario for the natural resources sector and it is
highly doubtful that this will happen. As such, investors should be encouraged
to look through the short term issues and focus on what are still compelling
fundamentals within the natural resources sector.

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).

15 October 2008