Portfolio Update

BLACKROCK WORLD MINING TRUST plc
All information is at 31 December 2010 and unaudited.

Performance at month end with net income reinvested
                                 One     Three       One     Three      Five
                               Month    Months      Year     Years     Years
Net asset value* (undiluted)   14.0%     25.9%     46.3%     23.0%    157.1%          
Net asset value* (diluted)     14.0%     25.9%     46.3%     31.6%    153.8%          
Share price*                   14.0%     29.7%     48.6%     28.2%    146.6%          
HSBC Global Mining Index       11.5%     22.2%     35.6%     43.8%    170.5%          

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:                               961.79p#          955.04p
# Includes net revenue of 6.75p                                                
                                                                               
Share price:                                     811.00p                       
Discount to NAV**:                                 15.1%                       
Total assets:                                  £1,735.8m                       
Net yield:                                          0.6%                       
Gearing:                                            1.6%                       

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                 40.1    Latin America              27.5 
Base Metals                 25.7    Global                     23.7 
Gold                        11.1    Australasia                12.9 
Industrial Minerals          8.7    Other Africa               10.6 
Silver & Diamonds            8.1    South Africa                8.8 
Platinum                     6.0    Canada                      6.9 
Other                        0.9    Indonesia                   3.8 
Net current liabilities     (0.6)   USA                         2.6 
                           -----    Emerging Europe             1.8 
                           100.0    India                       1.1 
                           =====    Mongolia                    0.1 
                                    Europe                      0.8 
                                    Net current liabilities    (0.6)
                                                              ----- 
                                                              100.0 
                                                              ===== 
                                                                               
Ten Largest Investments (in alphabetical order)                                 
                                                                               
Company                                                                        
BHP Billiton                                                                   
First Quantum Minerals                                                         
Freeport McMoRan                                                               
Fresnillo                                                                      
Glencore Finance (Europe) 5% 31/12/14                                          
Impala Platinum                                                                
Minas Buenaventura                                                             
Rio Tinto                                                                      
Teck Resources                                                                 
Vale                                                                           


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

Performance
Equity markets spent much of December focused on China. On 13 December, the
world's second largest economy raised its reserve ratio by a hundred basis
points and on Christmas Day increased base interest rates by a quarter of a
percent, both in an effort to cool inflation (CPI) which hit 5.1% in November.
Amidst the policy tightening, data was released showing that Chinese copper and
iron ore imports snapped higher in November. The policy measures did not
unsettle the mining sector or stop it from finishing the year with considerable
momentum.

Copper reached all time highs in December and finished the month at $9,650 a
tonne, having risen by 14.6% over the course of it. Robust demand from China
and the US, coupled with low inventory levels, has kept the copper market tight
throughout 2010. The launch of ETF Securities' copper ETF vehicle in December,
and port loading troubles at the Collahuasi mine in Chile, offered some short
term impetus as well. Tin prices gained by 9.9% over the month and aluminium
appreciated by 9.1%.

Coal markets underwent significant disruption in December, as torrential rains
and flooding in Queensland prompted many producers in the region to declare
'force majeure' on January shipments. Queensland, according to Goldman Sachs
data, accounted for 58% of hard coking coal and 38% of semi-soft coking coal
and PCI seaborne trade in 2010. The impact of the floods will be particularly
acute therefore in markets for these coal types.

Rio Tinto rounded the year off with some corporate activity. The company
announced it had reached a new financial agreement with Ivanhoe in which it
will assume management control of the Oyu Tolgoi copper and gold development.
Rio Tinto also launched a A$3.9bn friendly cash offer for Riversdale Mining, a
junior coal developer with coking coal assets in Mozambique.

Strategy/Outlook
Our outlook for the mining sector continues to be positive as we start 2011.
Its strength in December indicated the strong fundamental drivers underpinning
it: robust demand from emerging markets accompanied by improving demand in
developed economies and constrained supply in select commodities. The monetary
policy tightening measures taken by China should, in our view, be taken as a
positive indication of the country's ability to manage its economy and not as a
forebear of a potential hard landing.

Given the volumes of free cashflow mining companies are able to generate at
these commodity prices, we would not be surprised to see more M&A activity in
the sector during 2011. As well as reinvesting cash in growth opportunities, it
would be positive for sector valuations if this strong cashflow generation were
reflected in returns of capital to shareholders.

17 January 2011


ENDS


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). 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.