Portfolio Update

BLACKROCK WORLD MINING TRUST plc
All information is at 30 November 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)    3.9%     24.9%     31.8%      7.0%    142.4%          
Net asset value* (diluted)      3.9%     24.9%     31.8%     14.6%    139.3%          
Share price*                    6.7%     23.5%     35.2%     12.0%    128.7%          
HSBC Global Mining Index        3.9%     21.6%     25.2%     28.2%    161.8%          

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:                               843.64p #              836.70p
# Includes net revenue of 6.94p                                                
                                                                               
Share price:                                     711.50p                       
Discount to NAV**:                                 15.0%                       
Total assets:                                  £1,522.8m                       
Net yield:                                          0.7%                       
Gearing:                                            1.6%                       

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                    40.1  Latin America                27.9 
Base Metals                    24.1  Global                       23.8 
Gold                           12.0  Australasia                  12.4 
Industrial Minerals             8.6  Other Africa                 10.4 
Silver & Diamonds               8.0  South Africa                  8.7 
Platinum                        6.0  Canada                        6.7 
Other                           1.1  Indonesia                     3.8 
Net current assets              0.1  USA                           2.7 
                                     Emerging Europe               1.5 
                                     India                         1.1 
                                     Mongolia                      0.1 
                                     Europe                        0.8 
                                     Net current assets            0.1 
                              -----                              ----- 
                              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
The modest performance of the mining sector was predominantly due to macro
economic issues weighing down on both commodity and equity markets during the
month. Concerns regarding the health of the Irish economy and banking system
caused a decline in the euro and further monetary policy tightening in China
put pressure on the market. These factors, combined with increased military
conflict on the Korean Peninsula, led to muted markets.

Precious metals rose strongly over the month. The silver price rose 13% hitting
a new all-time-high of $28.6/oz, outperforming gold over the month. Silver has
attracted retail buying in the US, where coins have been popular as a store of
wealth.

The Purchasing Managers Index (broadly used as an indicator of industrial
strength) was stronger than expected in November. Growth in industrial activity
predominantly came from China and core European countries such as Germany,
France and the UK. The data so far in 2010 suggests that manufacturing output
is currently on a very strong footing and is a positive indicator for 2011.

Changes to weather conditions globally have impacted the near term outlook for
coking coal and thermal coal. Supply of coal from Queensland, Australia has
been impacted by heavy rains culminating in the closure of the Goonyella rail
corridor, a key infrastructure route, impacting approximately 90mtpa of mine
supply. The heavy rains have also led to declarations of force majeure by Vale/
Aquila and MacArthur Coal, covering 5mtpa of mine supply. Analysis of
inventories indicates that should these weather conditions continue, the market
is likely to become constrained relatively quickly which may push prices
higher. Thermal coal prices exhibited strength during the month with Newcastle
FOB coal rising 8% in the face of continued import demand from China and supply
disruptions due to heavy rains across Australia and Indonesia.

Strategy/Outlook
The medium to long term outlook for the mining sector appears robust. Emerging
markets are forecast to exhibit strong growth and supply remains constrained in
its ability to meet the increase in demand in selected commodities.

As concerns over a double dip recession ease and commodity prices remain
robust, our outlook for the market is positive. The sector continues to trade
near historically low valuations on a variety of metrics, suggesting current
levels could represent an attractive entry point to the market for investors.
At these levels, we would not be surprised to see further M&A activity within
the mining 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).

16 December 2010