Portfolio Update

BLACKROCK WORLD MINING TRUST plc
All information is at 30 November 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%   -11.0%    -8.5%   165.8%   60.1%
Net asset value* (diluted)      -2.3%   -11.0%    -8.5%   165.8%   63.6%
Share price*                    -3.7%   -10.9%   -10.6%   159.4%   53.1%
HSBC Global Mining Index        -2.0%    -9.7%   -12.8%   121.5%   75.4%

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:                 767.18p*                754.45p
*Includes net revenue of 12.73p

Share price:                       631.50p
Discount to NAV**:                   17.7%
Total assets:                   £1,431.59m
Net yield:                            1.0%
Gearing:                              5.0%

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

** Discount to NAV based on cum income.

Sector                    % Total    Country Analysis          % Total
                           Assets                               Assets

Diversified                 39.7    Global                       42.6
Base Metals                 21.0    Latin America                19.5
Industrial Minerals         14.8    Australasia                  14.1
Gold                         9.9    Other Africa                  8.4
Silver & Diamonds            8.9    South Africa                  7.0
Platinum                     3.6    Canada                        1.9
Other                        0.9    USA                           1.4
Net current assets           1.2    Republic of Congo             1.2
                           -----    Emerging Europe               1.1
                           100.0    Democratic Republic of Congo  1.1
                           =====    Mongolia                      0.2
                                    Indonesia                     0.3
                                    Net current assets            1.2
                                                                -----
                                                                100.0
                                                                =====

Ten Largest Investments               % Total
                                       Assets
Company
Rio Tinto                                9.0
BHP Billiton                             8.2
Vale                                     7.0
Glencore Finance (Europe) 5% 31/12/14    5.7
Minas Buenaventura                       4.6
Fresnillo                                4.3
First Quantum Minerals                   4.1
Freeport McMoran                         3.8
Teck Resources                           3.8
Iluka Resources                          3.7

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

Performance
Once again the month was characterised by volatile markets as economic
uncertainty persisted.  Confidence was knocked by weaker than expected flash
PMI data out of China as well as gloomy US economic data resulting in a decline
across most markets.

The iron ore spot price (Chinese import price for 62% Fe iron ore) rallied
strongly during November following the sharp sell-off in October, finishing the
month up over 10%.  It would appear that Chinese buyers returned to the market
to take advantage of sea-borne iron ore prices that were below the costs of
domestic iron ore production.  The Q1 2012 coking coal contract price was
settled at US$235/t, down 17.5% versus the previous quarter and in line with
spot coking coal prices.  Nickel was the worst performing of the base metals,
down 10.5%, copper finished down only 1.5%, whilst zinc was the strongest
performer rising 4.55%.  In the precious metals space, gold's safe-haven
characteristics were evident as the metal closed the month up 1.3% whereas
silver closed down 8.4%. 

Anglo American was full of surprises in November.  It announced that it had
agreed to purchase 40% of the diamond producer DeBeers from the Oppenheimer
family for US$5.1bn, taking its shareholding to 85% of the company.  This was
followed by an announcement that it had sold a 24.5% interest in its Chilean
copper assets to Mitsubishi for US$5.39bn.  The announcement caused particular
controversy as Codelco, the state Chilean miner, had announced its intention in
October to exercise its option over a 49% shareholding in those same assets. 
Anglo American believe that it is within the terms of the original agreement
with Codelco that following the sale of the stake to Mitsubishi, Codelco now
only have a claim over 24.5% of the assets - Codelco have disputed this.

Strategy/Outlook
During much of 2011, the mining sector has faced the headwinds of an uncertain
macro-economic environment. This has obscured the strong underlying
fundamentals from which the sector is benefitting. Although it has seen some
softening in the light of the current economic malaise, overall commodity
demand is still solid, which coupled with supply side constraints has kept
markets relatively tight. This has resulted in record earnings for many of the
portfolio's major holdings.

Mining company valuations continue to look extremely attractive across a
variety of metrics such as earnings and cash flow multiples and price to NAV
levels. The balance sheet of the mining sector is now significantly stronger
than it was in 2008; companies are better positioned to weather market
volatility, as well as supporting organic growth, increasing dividends and
share buybacks. 

The global macro-economic outlook is likely to continue to drive the near-term
performance of the mining sector. Weaker economic data from China coupled with
signs that inflation in the country is beginning to ease, has appeared to lead
to a change in tack by the Chinese government with respect to monetary policy. 
During November, government rhetoric began to focus on protecting growth in the
economy and in early December we saw some evidence of that, as Chinese policy
makers enacted the first cut in the bank reserve ratio for three years.  This
change in stance by China should help refocus the market on the strong
underlying fundamentals, attractive valuations and provide some reassurance
over continued strength in the Chinese economy which in turn is key for
commodity demand growth.

14 December 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.