Portfolio Update

BLACKROCK WORLD MINING TRUST plc
All information is at 30 June 2012 and unaudited.

Performance at month end with net income reinvested
                                 One    Three      One   Three    Five
                               Month   Months     Year   Years   Years
Net asset value* (undiluted)    0.8%   -14.0%   -27.4%   54.1%    2.9%
Net asset value* (diluted)      0.8%   -14.0%   -27.4%   54.1%    7.8%
Share price*                   -1.1%   -15.6%   -23.5%   53.0%    6.0%
HSBC Global Mining Index        2.1%   -11.8%   -29.2%   30.3%   14.0%

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:                 654.17p*                642.33p
*Includes net revenue of 11.84p

Share price:                       567.50p
Discount to NAV**:                   13.2%
Total assets:                   £1,259.85m
Net yield***:                         2.5%
Gearing:                              8.6%

Ordinary shares in issue:          177,287,242
Ordinary shares held in Treasury:   15,724,600

** Discount to NAV including current year income.
*** Based on final ordinary dividend of 14.00p per share in respect of the year
ended 31 December 2011.

Sector                   % Total    Country Analysis          % Total
                          Assets                               Assets

Diversified                 41.2    Global                       44.1
Base Metals                 18.7    Latin America                19.6
Industrial Minerals         12.4    Other Africa                 10.4
Gold                         9.4    Australasia                   9.6
Silver & Diamonds            8.9    South Africa                  6.1
Platinum                     2.6    Republic of Congo             1.0
Energy Minerals              1.0    Emerging Europe               1.0
Net current assets           5.8    Democratic Republic of Congo  1.0
                           -----    Canada                        0.6
                                    USA                           0.4
                           100.0    Indonesia                     0.3
                           =====    Mongolia                      0.1
                                    Net current assets            5.8
                                                                -----
                                                                100.0
                                                                =====

Ten Largest Investments                       % Total Assets

Company
Rio Tinto                                     8.9
BHP Billiton                                  8.3
Vale                                          7.3
Glencore Finance (Europe) 5% 31/12/14         5.7
Minas Buenaventura                            4.5
First Quantum Minerals                        4.1
Industrias Penoles                            3.7
Teck Resources                                3.6
Fresnillo                                     3.6
Freeport McMoRan                              3.4
 

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

Performance
Markets oscillated in response to macro-economic news in June, much as they
have done all year.  Spain became the fourth Eurozone country to request a
bailout, keeping the crisis that has plagued the troubled region well-fuelled.
China cut interest rates for the first time since 2008, making a 25 basis
point reduction.  For those that welcomed the monetary loosening, there were
those, seemingly equal in number, that feared it would be a forebear to a
slower than anticipated growth rate in the country.  A conclusive outcome to
the Greek election and expectations of some constructive political policy from
the EU summit laid the foundation for a relief rally at the end of the month.

Trade data released during the month painted a far more robust picture for
commodity consumption than many have feared and than the market has been
pricing in.  Iron ore imports into China posted a 10.7% increase in May
month-on-month and were 19.8% higher year-on-year (Source: UBS).  Chinese
coking coal imports were similarly healthy and, among the base metals, copper
consumption was a notable area of strength.  A rise in copper imports, combined
with a drop in copper inventories in China, (copper inventories on the Shanghai
Futures Exchange fell by 10% to their lowest level in four months; source: RBS)
created a strong backdrop for the metal, which enjoyed a 3.5% gain during the
month.

The terms of the proposed merger between Glencore and Xstrata came under
scrutiny. Qatar's sovereign wealth fund is the second largest shareholder in
Xstrata (behind Glencore) having built up an 11% stake in the company and they
called for an improved share ratio for the deal.  Under the existing terms,
Xstrata shareholders stand to receive 2.8 Glencore shares for every Xstrata
share owned.  The retention package for Xstrata management has also proved to
be a bone of contention.  At the end of the month, Xstrata announced amendments
to the incentive arrangements, incorporating some performance criteria for
their awarding.

Strategy/Outlook
The global macro-economic outlook and fragile investor sentiment continue to
drive the near-term performance of the mining sector.

Recent moves towards monetary loosening and stimulus should be supportive of
commodities demand.  China has enacted two sets of interest rate cuts in less
than a month, the ECB has cut interest rates to 0.75% and the Bank of England
has instigated a further round of quantitative easing.  All eyes are now
focused on whether the Federal Reserve will follow suit.

Stimulus and accommodating monetary policy aside, commodities demand has
remained comparatively robust.  In addition, the supply side continues to be
challenged by both short term factors, such as weather events, and longer term
ones, such as labour shortages and grade declines.

Mining company valuations look attractive across a variety of metrics.  Balance
sheets have been bolstered by a more conservative approach to gearing
management and record operational cashflow generation.  Mining managements have
also shown themselves more willing to share that balance sheet strength with
investors through dividends and buybacks, a trend they would do well to
continue.

12 July 2012

ENDS

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any website accessible from hyperlinks on the Manager's website (or any other
website) is incorporated into, or forms part of, this announcement.