Portfolio Update

BLACKROCK WORLD MINING TRUST plc
All information is at 30 April 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)    -0.3%      3.2%     29.3%     11.9%     94.4%          
Net asset value* (diluted)      -0.3%      3.2%     29.3%     13.7%     98.2%          
Share price*                     1.0%      5.6%     30.6%     14.8%     93.6%          
HSBC Global Mining Index        -0.7%      4.1%     19.9%     26.7%    108.6%          

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:                               923.83p#             920.16p
# Includes net revenue of 3.67p                                                
                                                                               
Share price:                                     797.50p                       
Discount to NAV**:                                 13.3%                       
Total assets:                                 £1,682.20m                       
Net yield:                                          0.8%                       
Gearing:                                            2.9%                       

Ordinary shares in issue: 177,537,242                                          
Ordinary shares held in Treasury: 15,474,600                                   

** Discount to NAV based on capital only.                                      

                                                                               
Sector                    % Total  Country Analysis          % Total
                           Assets                             Assets
                                                                               
Diversified                  39.7   Global                      34.0 
Base Metals                  26.8   Latin America               24.3 
Industrial Minerals          10.5   Australasia                 13.1 
Gold                          9.2   Other Africa                11.9 
Silver & Diamonds             7.7   South Africa                 7.2 
Platinum                      4.5   USA                          2.0 
Other                         0.5   Canada                       1.8 
Net current assets            1.1   Emerging Europe              1.8 
                            -----   Europe                       1.2 
                            100.0   India                        0.9 
                            =====   Indonesia                    0.5 
                                    Mongolia                     0.2 
                                    Net current assets           1.1 
                                                               -----
                                                               100.0
                                                               =====
                                                                              
Ten Largest Investments (in alphabetical order)                                 
                                                                               
Company                                                                        
BHP Billiton                                                                   
First Quantum Minerals                                                         
Freeport McMoRan                                                               
Glencore Finance (Europe) 5% 31/12/14                                          
Impala Platinum                                                                
Minas Buenaventura                                                             
Rio Tinto                                                                      
Soc Min Cerro Verde                                                            
Teck Resources                                                                 
Vale                                                                           


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

Performance
Mining equities overcame the negative market sentiment that followed S&P's
decision to place US treasury debt on 'watch' as well as another reserve ratio
rise in China to finish the month in positive territory, although still at the
lower end of historical valuation ranges.

Copper was the most obvious exception in what was otherwise a similarly robust
month for underlying commodity prices. The red metal finished the month down
1.25% but still at the impressive level of US$9,296/tonne. The inclement and
disruptive weather seen across key exporting regions in 2010 is still having an
impact on seaborne markets for certain commodities. The bulks enjoyed another
month of gains. BHP Billiton noted in their first quarter production results
that most of their coking coal brands are still under force majeure after the
torrential flooding in Queensland and that iron ore production is not yet back
to normal operational capacity after the heavy rainfall and cyclones in the
Pilbara region in Western Australia.

Chinese import data released during the month revealed that the world's second
largest economy's hunger for commodities remains robust: copper imports, for
example, increased by 30% month on month in March.

In confirmation of the scarcity value and fundamental attractiveness of high
quality copper assets, the African copper industry played host to a flurry of 
M&A activity in March. At the beginning of the month, Equinox, a core copper
position in the Company and owner of the Lumwana copper mine in Zambia, was bid
for by Minmetals Resources, a Hong Kong listed company controlled by a Chinese
State Owned Enterprise. Minmetals subsequently withdrew their bid on the
emergence of a rival, friendly takeover attempt of Equinox by Barrick.
Barrick's C$7.1 billion counteroffer trumped Minmetals by a meaningful margin:
the proposal equated to C$8.15 a share compared to Minmetals' initial C$7.00
offer. Vale, the Brazilian diversified miner, also stepped into the fray with a
US$1.1 billion bid for Metorex, the South African copper and cobalt producer 
with assets in the Democratic Republic of Congo and Zambia.

What April's corporate activity undoubtedly showed is the premium companies are
willing to attach to scalable copper assets and their importance in an industry
that is otherwise struggling to expand. This can only be a good sign for the
fundamentals of the red metal and the holdings in the Company with exposure to
this area.

Over the course of the month, Glencore, the hitherto privately owned
commodities powerhouse, announced their intention to float. The Company has
exposure to the company via a convertible bond issued towards the end of 2009.

Strategy/Outlook
2011 has so far been a volatile period for mining equities. The sector has at
times been at the mercy of macroeconomic uncertainty and has broadly been at
the forefront of any risk on/risk off trade. The fundamentals for our favoured
commodities continue to look supportive.

The strength of those fundamentals are not being fully reflected in equity
valuations which look attractive not only on a historical basis but also when
considered in light of the exceptional levels of free cashflow mining companies
are able to generate at current commodity prices. The trends of more mergers
and acquisition activity, as well as returns to shareholders that we have been
noting and predicting for some time, are firmly in place and we anticipate
still more to come.

18 May 2011


ENDS

Latest information is available by typing www.blackrock.co.uk on the internet,
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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.