Portfolio Update

BLACKROCK WORLD MINING TRUST plc
All information is at 31 October 2010 and unaudited.

Performance at month end with net income reinvested
                                    One     Three       One     Three      Five
                                  Month    Months      Year     Years     Years
Net asset value* (undiluted)       6.3%     20.0%     41.8%     -1.1%    157.5%          
Net asset value* (diluted)         6.3%     20.0%     41.8%      6.3%    154.2%          
Share price*                       6.6%     17.9%     40.4%      0.6%    133.7%          
HSBC Global Mining Index           5.4%     17.8%     36.7%     18.3%    176.8%          

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/diluted:                               812.33p #              805.78p
# Includes net revenue of 6.55p                                                
                                                                               
Share price:                                     667.00p                       
Discount to NAV**:                                 17.2%                       
Total assets:                                  £1,466.6m                       
Net yield:                                          0.7%                       
Gearing:                                            1.7%                       

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                   41.0    Latin America                28.7 
Base Metals                   22.4    Global                       24.6 
Gold                          13.2    Australasia                  12.2 
Industrial Minerals            8.5    Other Africa                  9.5 
Silver & Diamonds              7.4    South Africa                  8.8 
Platinum                       6.2    Canada                        5.9 
Other                          0.7    Indonesia                     3.6 
Net current assets             0.6    USA                           2.5 
                                      Emerging Europe               1.6 
                                      India                         1.1 
                                      Europe                        0.9 
                                      Net current assets            0.6 
                             -----                                ----- 
                             100.0                                100.0 
                             =====                                ===== 
                                                                               
Ten Largest Investments (in alphabetical order)                                 
                                                                               
Company                                                                        
BHP Billiton                                                                   
First Quantum Minerals                                                         
Freeport McMoRan                                                               
Fresnillo                                                                      
Glencore Finance (Europe) 5% 31/12/14                                          
Impala Platinum                                                                
Minas Buenaventura                                                             
Rio Tinto                                                                      
Teck Resources                                                                 
Vale                                                                           

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

Performance
Support from US dollar weakness and a bullish tone at LME week underpinned a
good run for the sector in the early stages of the month. On 19 October,
however, China announced a 25 basis point increase in reserve rates; copper
fell 2.5% on the news. We in fact view a slightly tighter Chinese monetary
policy favourably as it demonstrates the government is looking to sustainable
economic growth with less volatility.

The market's focus was quickly redirected back onto the prospect of the second
round of quantitative easing (or QE2) (and share prices strengthened as a
result) as the meeting of the Federal Reserve's open market committee to
discuss its potential implementation drew closer: the meetings are scheduled
for 2 and 3 November.

Morgan Stanley and Goldman Sachs raised their copper forecasts considerably in
early October and the metal emerged from the LME week with consensus support
from the industry. Copper finished the month at US$8,186/tonne having gained
2.3%. The fundamentals of tin, like copper, are becoming increasingly tight and
the metal rose 5.4% over the month.

BHP Billiton and Rio Tinto were forced to abandon their proposed iron ore joint
venture. The US$116bn deal would have combined production efforts at the
companies' West Australian iron ore facilities. The regulatory hurdles to the
deal proved insurmountable. BHP has further regulatory dialogue forthcoming in
the form of the Canadian authorities' verdict on their all cash bid for Potash
Corp of Saskatchewan which is set to be delivered in the first week of
November.

JP Morgan and BlackRock filed with the Securities Exchange Commission during
the month for permission to launch physically backed copper ETFs. Further
details, such as timing and the costs involved with the products, are as yet
unknown, as are the implications for the copper market. However, it is not
unreasonable to suggest that opening up another source of demand for the sought
after metal could further tighten the market in the short term.

Strategy/Outlook
Equity investors are currently focused on the conclusion of the Federal
Reserve's Open Market Committee meetings in the first week of November. The
week will also see the meeting of other major central banks: the European
Central Bank, the Bank of Japan and the monetary policy committee of the Bank
of England. The decisions made and how they are received will do much to drive
short term equity markets.

Our medium to long term outlook remains unchanged. Emerging markets forecasts
continue to exhibit strong growth and as a result we expect demand growth for
commodities to remain robust. There is the potential therefore for increasing
and significant tightness in a number of commodities in which supply is already
constrained such as copper, iron ore, coking coal, thermal coal and platinum.
The mining sector continues to trade on historically low valuations, suggesting
current levels could represent an attractive entry point to the market for
investors. Improved balance sheets and strong cash flow generation has led and
will continue to lead to the potential for capital to be returned to investors
through share buybacks and/or dividends, as well as the possibility of
increased M&A activity, all of which are potentially positive for the 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 November 2010