Portfolio Update

BLACKROCK WORLD MINING TRUST plc

All information is at 31 January 2011 and unaudited.

Performance at month end with net income reinvested
                                    One     Three       One     Three      Five
                                  Month    Months      Year     Years     Years
Net asset value* (undiluted)      -7.0%     10.2%     46.4%     23.4%    113.0%          
Net asset value* (diluted)        -7.0%     10.2%     46.4%     31.0%    110.3%          
Share price*                      -6.9%     13.2%     48.6%     30.8%     97.8%          
HSBC Global Mining Index          -7.3%      7.4%     37.9%     39.3%    122.1%          

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/diluted:                               894.94p#               888.33p
# Includes net revenue of 6.61p                                                
                                                                               
Share price:                                     755.00p                       
Discount to NAV**:                                 15.0%                       
Total assets:                                 £1,613.20m                       
Net yield:                                          0.6%                       
Gearing:                                            1.5%                       

Ordinary shares in issue: 177,537,242                                          
Ordinary shares held in Treasury: 15,474,600                                   

** Discount to NAV based on capital only.                                      

                                                                               
Sector                     % Total   Country Analysis             % Total
                            Assets                                 Assets
                                                                               
Diversified                   41.5    Global                         33.7 
Base Metals                   25.7    Latin America                  26.2 
Gold                          10.3    Australasia                    12.4 
Industrial Minerals            9.6    Other Africa                   10.5 
Silver & Diamonds              7.0    South Africa                    8.2 
Platinum                       5.3    USA                             2.8 
Other                          1.0    Canada                          2.4 
Net current liabilities       (0.4)   Emerging Europe                 1.9 
                                      India                           1.0 
                                      Europe                          0.9 
                                      Indonesia                       0.3 
                                      Mongolia                        0.1 
                                      Net current liabilities        (0.4)
                             -----                                  ----- 
                             100.0                                  100.0
                             =====                                  =====
                                                                               
Ten Largest Investments (in alphabetical order)                                 
                                                                               
Company                                                                        
BHP Billiton                                                                   
First Quantum Minerals                                                         
Freeport McMoRan                                                               
Glencore Finance (Europe) 5% 31/12/14                                          
Impala Platinum                                                                
Minas Buenaventura                                                             
Rio Tinto                                                                      
Soc Min Cerro Verde                                                            
Teck Resources                                                                 
Vale                                                                           

Commenting on the markets, Evy Hambro, representing the Investment Manager
noted:

Performance
Equities gave a mixed performance in January with a shift in sentiment towards
value stocks. This was negative for commodity equities as they are
predominantly viewed as growth holdings and accordingly they fell over the
month. Political issues added to uncertainty in the market as anti-government
rioting in Egypt encouraged investors out of emerging markets and risk assets.

Base metals came off their highs of late 2010 as a rise in inventories caused
concern for investors and profit taking was broadly seen across metal
commodities. Nickel and tin were the only metals to post significant gains in
January with rises of 10.6% and 12.0% respectively. Despite these concerns,
metals producers are continuing to post healthy profit margins as the marginal
cost of production has remained well below the commodity price. January has
continued to see price upgrades from analysts; their outlook over the medium
term appears to be positive across most commodities with particular strength in
base metals and bulk commodities.

Weather conditions in Australia continued to impact the ability of mining
companies to deliver commodities for export. Flooding caused by heavy rainfall
in Queensland was the key issue in the first half of January, with a number of
mining companies declaring force majeure on their contracts. In the latter part
of the month, cyclone Yasi put the industry back on alert as one of the
strongest cyclones in five years approached the north eastern coastline. These
ongoing issues are likely to put further pressure on the coking coal market
where spot prices rose around 40% in January.

Mining companies began reporting their full year production results in January
with strong performance from diversified mining companies such as Rio Tinto.
High commodity prices in bulk commodities (such as iron ore and coking coal)
and copper suggest that these companies may be able to translate higher prices
into strong earnings.

Strategy/Outlook
Our outlook for the mining sector continues to be positive in 2011. It's
strength in late 2010 indicated that the strong fundamental drivers continue to
underpin it, including robust demand from emerging markets accompanied by
improving demand in developed economies and constrained supply in select
commodities.

Given the volumes of free cashflow mining companies are able to generate at
these commodity prices, we would not be surprised to see more M&A activity in
the sector in 2011. As well as reinvesting cash in growth opportunities, it
would be positive for sector valuations if this strong cashflow generation were
reflected in returns of capital to shareholders, either as higher dividends,
share buybacks, or a combination of the two.

18 February 2011

ENDS

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). Neither the contents of the Manager's website nor the contents of
any website accessible from hyperlinks on the Manager's website (or any other
website) is incorporated into, or forms part of, this announcement.