Portfolio Update

BLACKROCK WORLD MINING TRUST plc
All information is at 28 February 2013 and unaudited.

Performance at month end with net income reinvested
                                 One    Three     One    Three     Five
                               Month   Months     Year   Years    Years
Net asset value (undiluted)    -2.6%     1.2%   -17.7%    4.7%   -17.3%
Net asset value (diluted)      -2.6%     1.2%   -17.7%    4.7%   -11.0%
Share price                    -4.6%     2.1%   -19.7%   10.7%    -9.0%
HSBC Global Mining Index*      -2.3%     2.5%   -13.9%   -4.6%    -7.4%
*Total return

Sources: BlackRock, HSBC Global Mining Index, DataStream

At month end
Net asset value           Including Income            Capital Only
Undiluted/diluted:                 670.45p*                654.65p
*Includes net revenue of 15.80p

Share price:                       579.00p
Discount to NAV**:                   13.6%
Total assets:                   £1,308.52m
Net yield***:                         3.6%
Gearing:                             10.1%

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

** Discount to NAV including Income.
*** Based on final dividend of 14.00p and an interim dividend of 7.00p per
share in respect of the year ended 31 December 2012.

Sector                   % Total    Country Analysis          % Total
                          Assets                               Assets

Diversified                 39.3    Global                       46.3
Base Metals                 22.3    Latin America                18.2
Industrial Minerals         16.5    Other Africa                 15.6
Silver & Diamonds            8.5    Australasia                   6.8
Gold                         8.5    South Africa                  5.4
Platinum                     2.6    Democratic Republic of Congo  1.9
Energy Minerals              0.3    Emerging Europe               1.3
Net current assets           2.0    USA                           1.3
                           -----    Canada                        0.7
                           100.0    Indonesia                     0.3
                           =====    Mongolia                      0.2
                                    Net current assets            2.0
                                                                -----
                                                                100.0
                                                                =====
 
Ten Largest Investments                      % Total
                                              Assets
Company
Rio Tinto                                       11.4
BHP Billiton                                     8.8
Glencore Finance                                 6.2
London Mining Marampa Contract                   5.5
Freeport McMoRan                                 4.2
First Quantum Minerals                           3.9
Xstrata                                          3.7
Industrias Penoles                               3.6
Fresnillo                                        3.4
Vale                                             3.4

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

Performance
Mining equities have failed to keep pace in what has been a strong start to the
year for global equities.  Much of the tailwind for global equities has come
from the nascent economic recovery in the US, a period of less dramatic
newsflow from Europe and improved investor sentiment.  Investors have been more
focused it would appear on sectors exposed to US strength rather than emerging
market (particularly Chinese) growth, which has left the mining sector lagging.

Chinese PMI data released in February evidenced moderating output growth and at
the end of the month the administration also announced a series of measures
aimed at curbing house price inflation.  The measures include price controls,
more expensive mortgages and a capital gains tax.  Most were reiterations of
existing measures, but the talk of policy tightening was enough to soften
sentiment towards Chinese growth and the mining sector.

It was a weak month for metals prices. Copper declined by 4.2%, for example,
and tin and nickel fell by 5.6% and 9.5% respectively.  Iron ore was a notable
exception as prices remained firm around the $150/tonne level.  Restocking in
China and cyclones in Western Australia and resulting port closures have
supported prices at these strong levels.

We attended an industry conference in February and there are a number of
important talking points for the sector currently.  2013 has witnessed some
high profile changes in the management of major mining companies, accompanied
by major writedowns in book values of recent acquisitions.  The announcements
have highlighted the chequered investment and M&A track records of the mining
industry in recent years and have prompted further caution towards the sector.
It will be the job of new management to persuade investors that they will
oversee a period of improved investment and capital discipline and, ultimately,
better returns to shareholders.

Strategy/Outlook
The mining sector and other cyclical areas have struggled over the last two
years as the market has downgraded global growth expectations.  If growth,
sentiment and risk appetite continue to improve in 2013 then the mining sector
could well enjoy renewed momentum.

In the medium term, commodity prices are likely to remain high but range-bound
as supply and demand have come closer into balance.  We expect greater
tightness to return for certain commodities, but for now mining companies need
to be focused on capital discipline, operational efficiency and growing margins
through cost control.  In such an environment, well managed mining businesses
should be highly free cash flow generative, in a strong position to return cash
to shareholders and should see their share prices rewarded as a result.  In the
Company, we are looking to identify the winners and the stock specific stories
that have been neglected in the risk-off markets of the last two years.

13 March 2013

ENDS

Latest information is available by typing www.brwmplc.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.