Portfolio Update

BLACKROCK WORLD MINING TRUST plc
All information is at 28 February 2014 and unaudited.

Performance at month end with net income reinvested
                                 One     Three      One    Three     Five
                               Month    Months     Year    Years    Years
Net asset value (undiluted)     4.1%      3.2%   -21.5%   -40.5%    69.5%
Share price                     7.2%     11.5%    -9.6%   -30.2%    94.9%
Euromoney Global Mining Index   4.3%      2.7%   -21.4%   -41.6%    48.0%
(Total return)

Sources: BlackRock, Euromoney Global Mining Index, Datastream

At month end
Net asset value           Including Income            Capital Only
Undiluted/diluted:                 508.41p*                492.74p
*Includes net revenue of 15.67p

Share price:                       503.00p
Discount to NAV**:                    1.1%
Total assets:                    £1,002.5m
Net yield***:                         4.2%
Gearing:                             13.4%

Ordinary shares in issue:          177,287,242
Ordinary shares held in Treasury:   15,724,600
 
** Discount to NAV including income.
*** Based on interim dividend of 7.00p and final dividend of 14.00p per share
in respect of the year ended 31 December 2013.

Sector                   % Total     Country Analysis       % Total
                          Assets                             Assets

Diversified                 44.5     Global                    56.5
Base Metals                 21.3     Other Africa              17.7
Industrial Minerals         16.5     Latin America             11.9
Gold                         8.5     Australasia                5.0
Silver & Diamonds            7.3     South Africa               4.4
Other                        1.8     Canada                     3.1
Platinum                     1.2     Emerging Europe            1.4
Energy Minerals              0.9     USA                        1.0
Net current liabilities     (2.0)    China                      0.6
                           -----     Indonesia                  0.3
                           100.0     Colombia                   0.1
                           =====     Net current liabilities   (2.0)
                                                              -----
                                                              100.0
                                                              =====

Ten Largest Investments                 % Total
                                         Assets
Company
Rio Tinto                                  12.6
BHP Billiton                               11.2
GlencoreXstrata                            10.1
First Quantum Minerals                      8.3
London Mining Marampa Contract              6.5
Freeport-McMoRan                            5.4
Vale                                        3.6
Fresnillo                                   2.8
Sociedad Minera Cerro Verde                 2.2
Iluka Resources                             2.2

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

Performance
Equity markets provided a constructive backdrop during the month with world
markets rising by 4.8%, as represented by the MSCI World Index. Markets were
reassured by Janet Yellen's reiteration that the US Federal Reserve will
continue to gradually trim asset purchases on the back of improving economic
data. Investors reacted positively to this accommodating stance, which offset
the impact of political unrest escalating in Ukraine during the month.

The mining sector began reporting financial results in February. The general
theme was of the major diversified miners delivering on the promises they made
last year as operating cost reduction targets have widely been met. Rio Tinto,
for example, announced a 10% increase in earnings (to $10.2 billion) and a 15%
increase in full year dividend.

Wage disputes remained unresolved in South Africa as strikes persisted
throughout the month. The Association of Mineworkers and Construction Union and
several of the world's largest platinum producers were unsuccessful in reaching
an agreement prior to the final pay-day at the end of February, delaying an
expected resolution by another month. The production stoppages resulted in the
market losing on average 70,000oz of platinum production per week, providing
support for the price to rise by 5.3% over the month.

Gold maintained its positive momentum over the period, rising a further 6.7% to
finish the month at $1,326/oz. Negative sentiment towards the yellow metal
appears to have subsided as gold exchange-traded funds (ETFs) recorded positive
inflows in February (approximately 6 tonnes) for the first time in 13 months
(source: Scotiabank). Gold ETFs experienced outflows of approximately 880
tonnes in 2013 (source: World Gold Council). Although the South African rand
strengthened somewhat over the month, year-to-date the currency has depreciated
by 2.4% against the US dollar. South African gold producers benefited from
reduced operating costs and an increased gold price.

Strategy / Outlook
The mining sector has significantly lagged the general equity market in recent
years. However, a number of the downside risks for this sector have reduced
(albeit not disappeared). The industry has made good progress in refocusing its
strategy: operating costs have been aggressively targeted and investment in
projects reassessed. Many commodities are trading close to or below their
marginal cost of production, implying that price downside should be limited, in
the absence of a collapse in demand.

The global economic backdrop is showing signs of synchronous growth and this
has typically been supportive of commodity prices. The companies are trading on
an undemanding valuation, as well as being at a dividend yield premium to the
broader equity market, and with capital expenditure rolling off, management are
guiding investors towards rising free cashflows.

All data in USD terms unless otherwise stated.

13 March 2014

ENDS

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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.