Portfolio Update

BLACKROCK WORLD MINING TRUST plc
All information is at 30 November 2009 and unaudited.

Performance at month end with net income reinvested
                                    One     Three       One     Three      Five
                                  Month    Months      Year     Years     Years
                                                                               
Net asset value* (undiluted)      11.7%     23.1%    120.3%     32.7%    177.8%          
Net asset value* (diluted)        11.7%     23.1%    120.3%     35.6%    179.5%          
Share price*                      10.8%     19.9%    114.5%     26.6%    159.4%          
HSBC Global Mining Index          13.5%     24.4%    102.8%     60.6%    201.7%          

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:                               644.06p#              639.40p
# Includes net revenue of 4.66p                                                
                                                                               
Share price:                                     530.50p                       
Discount to NAV**:                                 17.0%                       
Total assets:                                 £1,144.89m                       
Net yield:                                         1.04%                       
Gearing:                                             Nil                       

Ordinary shares in issue: 177,762,242                                          
Ordinary shares held in Treasury: 15,249,600                                   

** Discount to NAV based on capital only.                                      
                                                                               
Sector                        % Total  Country Analysis             % Total
                               Assets                                Assets
                                                                              
Diversified                     44.6   Latin America                   30.9 
Base Metals                     19.3   Global                          18.9 
Gold                            14.6   Australasia                     10.5 
Silver/Diamonds                  7.1   South Africa                     9.7 
Platinum                         7.1   Other Africa                     7.7 
Industrial Minerals              5.1   Canada                           7.5 
Other                            0.8   USA                              3.9 
Net current assets               1.4   India                            3.7 
                                       Indonesia                        3.6 
                                       Emerging Asia                    1.2 
                                       Europe                           1.0 
                                       Net current assets               1.4 
                               -----                                  ----- 
                               100.0                                  100.0 
                               =====                                  ===== 
                                                                               
Ten Largest Equity Investments (in alphabetical order)                          
                                                                               
Company                                                                     
BHP Billiton                                                                   
First Quantum Minerals                                                         
Freeport McMoRan                                                               
Fresnillo                                                                      
Impala Platinum                                                                
Minas Buenaventura                                                             
Newcrest Mining                                                                
Rio Tinto                                                                      
Teck Resources                                                                 
Vale                                                                           

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

Performance
Developed equity markets performed strongly during the month of November, with
a broad based rally in the first half of the month after the end of October
sell off. The G20 pledged to continue to support the global economy with
central banks keeping interest rates low for a 'sustained period' and this was
deemed beneficial for risk assets. Materials stocks outperformed for the month
after positive data from China showing factory output increased to a 19 month
high, which is positive for the demand outlook, and industrial and precious
metals rallied. Investors looking to hedge inflation risks also supported
commodity prices.

After an unexpected increase in Chinese copper, iron ore and coal imports in
September, net commodity imports declined almost across the board in October
(according to a recent report by RBS). The huge rise in Chinese imports has
been a central pillar of the recovery in base metal prices this year and a
moderation in imports had been anticipated as inventories have been rebuilt
(from their lows in late 2008/early 2009). Just as the rise in Chinese imports
in 2009 filled the void left by collapsing demand in the OECD, so a strong
rebound in OECD demand could offset moderating Chinese imports in 2010,
preventing a significant relapse in base metal prices.

Strategy/Outlook
Since the lows in the commodity markets, we have seen a significant recovery in
prices and whilst we do not necessarily expect the same rate of price increase
going forward it is our expectation that commodity prices are likely to remain
well supported. Demand growth, particularly from the emerging markets such as
China, India and Brazil, as well as a recovery in the western world, coupled
with supply-side constraints should underpin commodity prices over the coming
years. The best performers will be those commodities that are unable to grow
supply to meet demand.

Despite the financial crisis having eased and the financial distress in the
sector now diminished, there remain many companies that have projects that are
unlikely to be developed in the short term, if ever. Across the industry, the
appetite for taking on development risk is quite a long way from returning, and
those projects that are being developed have had their scale revised markedly
lower to reduce the financial and development risk. The shutdown of existing
capacity over the last 12 months and the cancellation and scaling back of new
supply means many commodities are constrained on the supply side. When we see
demand recover, as we are possibly already starting to see the early signs of,
the supply side's recent lack of investment should provide support for
commodity prices.

Latest information is available by typing www.blackrock.co.uk/its on the
internet, "BLRKINDEX" on Reuters, "BLRK" on Bloomberg or "8800" on Topic 3 (ICV
terminal).

14 December 2009