Portfolio Update

Merrill Lynch World Mining Tst PLC
13 April 2006

 MERRILL LYNCH WORLD MINING TRUST plc

 All information is at 31 March 2006 and unaudited.

 Performance at month end with net income reinvested

                                                                       One      Three        One      Three       Five
                                                                     month     months       year      years      years
Net asset value* (undiluted)                                         11.2%      19.5%      79.2%     261.9%   352.1%
Share price*                                                          6.7%      20.5%      86.8%     264.0%     398.3%
HSBC Global Mining Index                                              8.7%      17.2%      72.4%     212.3%     211.6%

Sources: Merrill Lynch Investment Managers, HSBC Global Mining Index, Datastream

*Net asset value and share price performance includes the warrant reinvestment,
assuming the 2004 bonus warrant entitlement per share was sold and reinvested on
the first day of trading.

At month end
Net asset value
Undiluted:                          470.59p         Includes net revenue of:                                     3.18p
Diluted:                            465.33p         Discount to undiluted NAV:                                  10.64%
Share price:                        420.50p         Net yield:                                                    0.4%
Warrant price:                        36.50p
Total assets:                       £817.82m
Gearing:                                4.0%
Ordinary shares in issue:                      168,298,906
Warrants in issue:                              33,659,228






Sector                                 % Total Assets         Country                                    % Total Assets
Analysis                                                      Analysis

Diversified                                      49.5         Global                                               22.4
Base Metals                                      21.3         Latin America                                        20.1
Gold                                              8.5         Canada                                               17.3
Platinum                                          7.0         South Africa                                         12.9
Silver/Diamonds                                   5.6         Australasia                                           8.9
Industrial Minerals                               4.9         USA                                                   3.9
Other                                             4.1         Europe                                                3.5
Net current liabilities                         (0.9)         Other Africa                                          3.4
                                                              China                                                 3.4
                                                              India                                                 3.1
                                                              Laos                                                  1.3
                                                              Indonesia                                             0.7
                                                              Net current liabilities                             (0.9)
                                                100.0                                                             100.0


Ten Largest Equity Investments
Company                                       Region of Risk
BHP Billiton                                    Global
CVRD                                            Latin America
Falconbridge                                    Canada
First Quantum Minerals                          Zambia
Impala Platinum                                 South Africa
Rio Tinto                                       Global
Teck Cominco                                    Canada
Vedanta                                         India
Xstrata                                         Global
Zinifex                                         Australasia




Commenting on the markets, Graham Birch, representing the Investment Manager
noted:



After a pull back in February, mining shares had an excellent month in March and
the Company's NAV rose 11.2% to close the month at 470.59p.  Strong metal prices
and news of unexpected supply side disruptions benefited the mining sector as a
whole, and with copper, zinc, aluminium, gold and platinum all at new highs,
market analysts have had to revise upwards their commodity price assumptions for
2006.  The greatest contributor to performance was Vedanta whose performance was
driven by record prices across its suite of commodities; followed by First
Quantum whose bid for Adastra Minerals has high-lighted its ability to develop
low cost mines in difficult parts of the world.



Over the month, the Company adjusted its coal exposure by reducing its position
in Peabody and increasing its position in China Shenhua, China's largest coal
producer, and by taking part in an equity raising for Riversdale, a coal
producer in South Africa looking to purchase a company transforming coal assets
in Mozambique.



Global economic growth should be sufficiently robust to ensure that supply/
demand balances in the metals and minerals markets remain favourable.  The
recent 17% upgrade to China's economy by the Chinese government now ranks it as
the fourth largest economy in the world, emphasising the pivotal role it will
play in the commodity markets going forward.  Higher commodity prices have meant
many of the Company's holdings are translating their strong balance sheets and
high cash flows into higher dividends and increased share buybacks.  There is
also the continued possibility of further corporate activity as mining companies
seek to grow quickly and cost effectively.







Latest information is available by typing www.mlim.co.uk/its on the internet,
'MLIMINDEX' on Reuters, 'MLIM' on Bloomberg or '8800' on Topic 3 (ICV terminal).



13 April 2006




                      This information is provided by RNS
            The company news service from the London Stock Exchange