Portfolio Update

BLACKROCK WORLD MINING TRUST plc
All information is at 31 August 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)    -7.1%     -7.3%     27.2%     22.3%     92.4%          
Net asset value* (diluted)      -6.2%     -6.4%     28.4%     24.7%     96.2%          
Share price*                    -6.7%     -9.1%     24.0%     22.7%     88.8%          
HSBC Global Mining Index        -5.4%     -6.7%     17.4%     29.8%    104.6%          

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:                     862.00p #              853.67p
# Includes net revenue of 8.33p                                                
                                                                               
Share price:                                     709.00p                       
Discount to NAV**:                                 16.9%                       
Total assets:                                £1,601.312m                       
Net yield:                                          0.8%                       
Gearing:                                            5.0%                       

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

** Discount to NAV based on capital only.                                      
                                                                               
Sector                 % Total  Country Analysis              % Total
                        Assets                                 Assets
                                                                               
Diversified               37.1   Global                          40.0 
Base Metals               21.5   Latin America                   21.4 
Industrial Minerals       14.5   Australasia                     14.2 
Gold                      10.7   Other Africa                     8.1 
Silver & Diamonds          9.8   South Africa                     7.2 
Platinum                   3.9   Canada                           1.9 
Other                      0.9   USA                              1.5 
Net current assets         1.6   Emerging Europe                  1.4 
                         -----   Republic of Congo                1.1 
                         100.0   Democratic Republic of Congo     1.0 
                         =====   Mongolia                         0.2 
                                 Indonesia                        0.4 
                                 Net current assets               1.6 
                                                                ----- 
                                                                100.0 
                                                                ===== 
                                                                               
Ten Largest Investments                                                        
                                                                               
Company                                 % Total Assets  
Rio Tinto                                          9.0  
BHP Billiton                                       6.5  
Vale                                               6.2  
Minas Buenaventura                                 5.5  
Fresnillo                                          5.4  
Glencore Finance (Europe) 5% 31/12/14              5.0  
First Quantum Minerals                             4.3  
Teck Resources                                     3.9  
Iluka Resources                                    3.7  
Freeport McMoRan                                   3.7  

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

Performance
With the downgrade of US debt by S&P from AAA to AA+, a crisis of confidence
erupted and equity markets globally suffered aggressive selling. A slew of weak
economic data and growing disaffection from investors with the political
response thus far to the sovereign debt crisis sustained the selling until
anticipation of further quantitative easing from the Federal Reserve (for which
no firm commitments have been made) sparked a modest relief rally.

Mining equities, deemed a higher risk sector, were kept firmly in the clutches
of the market shifts. A greater focus on fundamentals would certainly have led
to a different performance trajectory, however. Weakening growth expectations
in the US and Europe should only have a limited impact on overall commodity
demand. The economic outlook for the core areas of growth in commodity
consumption, China, India and the emerging markets as a whole, remains
positive. Import data from China released over the month indicated a rise in
iron ore and copper numbers and inventories were reported to be low across the
domestic supply chain. Bulk commodities such as iron ore and coal, which are
not exchange traded and thus do not experience significant speculative trading,
remained firm over the course of the month. Anglo American settled their Q4
hard coking coal contracting price at US$285/tonne, which although below the Q3
figure is an extremely robust price. The base metals suffered weakness over the
month (unlike the bulks, they are exchange traded), but are still at very
compelling prices for producers: copper, for example, finished the month at
US$9,258/tonne.

The precarious economic situation in the developed world has also led to too
narrow a focus on commodities demand over and above supply. The supply side has
been significantly challenged so far this year across a number of key
commodities. To name but one indicative example: output from the world's
largest copper mine, Escondida in Chile, fell 14% in the first half from the
same period in 2010 due to declining ore grades and labour issues.

Company cashflows are at record levels due to current commodity prices, as
reporting during the month from major miners such as BHP Billiton and Rio Tinto
showed, and the balance sheet of the mining sector is in good health (quite
unlike 2008 when the industry was heavily indebted and largely with short-term
instruments that were proved unsuitable for the longer term nature of their
asset bases and cashflow profiles). Mining company valuations, given the impact
of the market weakness, now look extremely attractive. It has been no surprise
to see the corporate world respond and M&A activity continue apace: during the
month, Coal and Allied, a major coal producer in New South Wales Australia,
received a joint offer from Rio Tinto and Mitsubishi to buy out its minority
investors and Glencore took one step further in its strategic acquisition
program by bidding for the shares it did not already own in Minara, an
Australia based nickel miner.

Strategy/Outlook
During much of 2011 and particularly acutely in August, 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
benefiting. Solid demand, particularly from emerging markets such as China and
India, coupled with supply-side constraints have kept markets tighter and
commodity prices more robust than many had predicted. This has resulted in
record earnings in the first half for many of the Company's major holdings.

With the sell-off we have seen, mining company valuations 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 which has led to increased dividends
and share buybacks.

A near-term catalyst for the mining sector would be an indication that Chinese
monetary policy is moving away from credit tightening. This should refocus the
market on the strong underlying fundamentals and provide reassurance over
continued strength in the Chinese economy and in turn commodity demand growth.

19 September 2011

ENDS

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website) is incorporated into, or forms part of, this announcement.