Portfolio Update

BLACKROCK WORLD MINING TRUST plc
All information is at 28 February 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)       2.3%      8.5%     38.0%      9.0%    127.6%          
Net asset value* (diluted)         2.3%      8.5%     38.0%     17.3%    124.7%          
Share price*                       3.3%      9.6%     43.3%     17.7%    110.0%          
HSBC Global Mining Index           2.4%      5.8%     28.4%     24.6%    137.9%          

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:                               915.37p#         909.28p
# Includes net revenue of 6.09p                                                
                                                                               
Share price:                                     780.00p                       
Discount to NAV**:                                 14.2%                       
Total assets:                                  £1,675.9m                       
Net yield:                                          0.8%                       
Gearing:                                            3.0%                       

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                39.0   Global                      32.9 
Base Metals                26.2   Latin America               25.9 
Gold                       10.5   Australasia                 12.5 
Industrial Minerals         9.8   Other Africa                10.7 
Silver & Diamonds           7.3   South Africa                 8.0 
Platinum                    5.2   USA                          2.7 
Other                       1.0   Canada                       2.3 
Net current assets          1.0   Emerging Europe              1.8 
                                  India                        0.9 
                                  Europe                       0.9 
                                  Indonesia                    0.2 
                                  Mongolia                     0.2 
                                  Net current assets           1.0 
                           -----                             ----- 
                           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
The Middle East crisis intensified over the course of the month with the
emergence and perseverance of social unrest in Libya, dampening investor risk
appetite and weighing on equity markets generally. The Company does not have
significant exposure to the affected areas.

Commodity prices generally remained robust. Copper came off its recent highs,
dropping below its landmark US$10,000/tonne level, but still posted gains of
1.2% in the month. Among the base metals, tin enjoyed notable price strength as
evidence of supply-side constraints for the commodity became more apparent. The
world's largest integrated tin miner, PT Timah, based in Indonesia, announced
during the month that its tin production fell by 10% in 2010.

The heavy rains and flooding in Queensland have largely subsided, but the
supply chain is not yet back to full capacity operation so the short term
support for coal prices remains in place. Elsewhere in the bulk commodities
space, iron ore continued to see upward pricing pressure. Demand is robust
(China imported 69m tonnes of the commodity in January alone) and an export tax
in India has compounded the supply-side constraints. It is speculated that
prices for the second quarter will be around US$170 a tonne for Australian iron
ore, excluding freight costs, which would be 40-45% higher than prices achieved
in the second quarter of 2010.

BHP Billiton dominated the corporate news in February. In a gratifying move for
shareholders, the world's largest miner has commenced a $10bn share buy back
programme split between its Australian and UK listed shares. The company also
acquired shale gas assets in Fayetteville, central Arkansas, from Chesapeake
Energy for $4.75bn, thereby further diversifying its overall book of business.

BHP's corporate activity has been enabled by the cash generation the company,
and many of its competitors, is able to achieve at current commodity prices.
The latest set of company results provides clear confirmation of just how
significant these cash generation levels are: BHP Billiton, Rio Tinto and Anglo
American have all reported record breaking profits for either the preceding
half or full year. How this cashflow is deployed during 2011 is likely to be a
key determinant of equity performance.

Strategy/Outlook
Our outlook for the mining sector continues to be positive in 2011. Drivers
include robust demand from emerging markets accompanied by improving demand in
developed economies and constrained supply in select commodities.

Many of the company results recently posted have offered evidence of the high
volumes of free cashflow mining companies are able to generate at these
commodity prices. We have, as a result, seen more M&A in the sector in 2011, as
well as examples of companies reinvesting cash into growth opportunities and
returning capital to shareholders through dividends and share buy backs. We
expect to see these trends continue.

17 March 2011
                                                                                                                                        ot; 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.