Portfolio Update

BLACKROCK WORLD MINING TRUST plc

All information is at 30 September 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)     -19.7%    -24.5%     -8.8%     41.4%     62.8%          
Net asset value* (diluted)       -19.7%    -24.5%     -8.8%     41.4%     63.3%          
Share price*                     -15.0%    -20.4%     -3.0%     49.6%     62.6%          
HSBC Global Mining Index         -15.5%    -21.3%    -10.6%     51.7%     81.4%          

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:                               692.58p#               681.78p
# Includes net revenue of 10.8p                                                
                                                                               
Share price:                                     602.50p                       
Discount to NAV**:                                 11.6%                       
Total assets:                                 £1,303.13m                       
Net yield:                                          1.0%                       
Gearing:                                            5.8%                       

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                  38.3  Global                             40.5 
Base Metals                  19.5  Latin America                      20.9 
Industrial Minerals          14.7  Australasia                        13.8 
Gold                         11.3  South Africa                        7.6 
Silver & Diamonds             9.3  Other Africa                        7.3 
Platinum                      4.0  Canada                              2.1 
Other                         0.9  USA                                 1.4 
Net current assets            2.0  Emerging Europe                     1.4 
                            -----  Republic of Congo                   1.4 
                            100.0  Democratic Republic of Congo        1.2 
                            =====  Mongolia                            0.3 
                                   Indonesia                           0.1 
                                   Net current assets                  2.0 
                                                                     ----- 
                                                                     100.0 
                                                                     ===== 

Ten Largest Investments                                                        
                                                                               
Company                                 % Total Assets  
Rio Tinto                                          8.5  
BHP Billiton                                       6.5  
Vale                                               6.5  
Glencore Finance (Europe) 5% 31/12/14              6.4  
Minas Buenaventura                                 5.8  
Fresnillo                                          4.9  
Teck Resources                                     3.4  
Iluka Resources                                    3.3  
Freeport McMoRan                                   3.2  
First Quantum Minerals                             3.0  

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

Performance
Jittery markets fell sharply following Chairman Bernanke's announcement
regarding the implementation of 'Operation Twist' and both Moody's and S&P
downgraded Italian debt. Persistent concerns surrounding the financial
contagion in the Eurozone, global growth, and whether the Chinese economy would
suffer a hard landing, all drove investor sentiment lower. The resultant risk
off trade caused an indiscriminate liquidation across most asset classes and
weakness in commodities and equities prevailed.

The IMF's downgrade to world growth forecasts led commodity prices lower, with
screen traded commodities suffering as speculative long positions appeared to
be closed out. The industrial metals exhibited weakness with the copper price
falling 24.4% over the month to US$3.17/lb, (Source: DataStream) its lowest
level in 2011; however, all the copper holdings in the portfolio remain
cashflow positive at this copper price. Declines were also evident across the
precious metals spectrum; the silver price fell by 26.4% (DataStream), back to
levels last seen in February of this year. The gold price was relatively strong
by comparison remaining above US$1,600/oz, an increase of 14% year to date
(DataStream).

In sharp contrast to the screen traded base metals, the bulk commodities showed
relative resilience as the tight fundamentals in the market supported the
prices of both thermal coal and coking coal. The iron ore price experienced a
moderate pull back to US$159/t (spot Platts 62% fines FOB Australia -
Macquarie). As yet there has been no evidence of any weakening of demand in the
iron ore market; despite macro concerns in the Chinese market, steel producers
do not appear to have been impacted by any significant liquidity issues.

As global economic issues dominated the market, investors continued their
rotation out of risk assets; this was the main driver behind declines in both
commodity prices and commodity equities. The most recent outlook from the IMF
casts a shadow over the global economy as they downgraded their world growth
forecast. As a result, those commodities that are more closely aligned with
industrial production weakened over the month.

Despite the turbulence in financial markets, mining companies continue to
remain in a strong position in terms of their balance sheets and M&A activity
remains brisk. For example, China Minmetals returned to the African copper belt
hunting for assets in September, following their unsuccessful attempt to
acquire Equinox earlier this year. They announced a bid for Anvil Mining, a
Democratic Republic of Congo based copper producer and explorer at a 30%
premium to the 20-day volume weighted average price. This bid is indicative of
the scarcity of high quality copper assets globally and the willingness of
companies to take on political risk for exposure to copper assets.

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 benefiting. Solid demand, particularly
from emerging markets such as China and India, coupled with supply-side
constraints, have kept markets relatively tight. 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; companies are better positioned to
weather market volatility as well as supporting growth of dividends and share
buybacks.

A near-term catalyst for the mining sector would be a reassurance that the
recent pull back in world growth is not a longer term issue and 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.

17 October 2011

ENDS

Latest information is available by typing www.blackrock.co.uk 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.