Portfolio Update

BLACKROCK WORLD MINING TRUST plc
All information is at 31 March 2012 and unaudited.

Performance at month end with net income reinvested
                                  One    Three      One    Three     Five
                                Month   Months     Year    Years    Years
Net asset value* (undiluted)    -7.6%     4.3%   -16.4%   106.8%    41.4%
Net asset value* (diluted)      -7.6%     4.3%   -16.4%   106.8%    44.8%
Share price*                    -7.9%     8.6%   -13.1%   111.7%    41.8%
HSBC Global Mining Index       -10.2%     0.8%   -24.2%    68.1%    46.6%

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:                 760.96p*                754.93p
*Includes net revenue of 6.03p

Share price:                       672.50p
Discount to NAV**:                   11.6%
Total assets:                   £1,391.60m
Net yield***:                         2.1%
Gearing:                              3.2%

Ordinary shares in issue:          177,287,242
Ordinary shares held in Treasury:   15,724,600

** Discount to NAV including Income.
*** Based on proposed final ordinary dividend of 14.00p per share in respect of
the year ended 31 December 2011.

Sector                   % Total    Country Analysis          % Total
                          Assets                               Assets

Diversified                 41.5    Global                       45.0
Base Metals                 20.9    Latin America                19.4
Industrial Minerals         14.4    Australasia                  12.3
Gold                         9.1    Other Africa                 10.7
Silver & Diamonds            8.9    South Africa                  6.6
Platinum                     3.0    Republic of Congo             1.5
Energy Minerals              2.2    USA                           1.3
Net current assets           0.0    Emerging Europe               1.2
                           -----    Democratic Republic of Congo  1.0
                           100.0    Canada                        0.7
                           =====    Indonesia                     0.2
                                    Mongolia                      0.1
                                    Net current assets            0.0
                                                                -----
                                                                100.0
                                                                =====

Ten Largest Investments                      % Total
                                              Assets

Company
Rio Tinto                                         9.3
BHP Billiton                                      8.1
Vale                                              7.6
Glencore Finance (Europe) 5% 31/12/14             5.8
Iluka Resources                                   4.6
Minas Buenaventura                                4.3
First Quantum Minerals                            4.0
Industrias Penoles                                3.8
Teck Resources                                    3.7
Fresnillo                                         3.7

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

Performance
Weaker sentiment entered markets in March following the bullish tones of
January and February.  Early in the month, Premier Wen provided guidance on
China's growth for 2012 targeting a GDP of 7.5% (revised down from 8%); this
caused the market a degree of concern and risk appetite weakened.  Later in the
month, the Fed, bolstered by improving economic conditions in the US, suggested
that US growth was relatively well supported.  This was interpreted by the
market that QE3 was less likely and risk assets sold off on this news. 

A number of physical commodities also exhibited weakness, as the realisation
that an injection of liquidity in the form of QE3 would not be forthcoming, put
downward pressure on real assets.  In the base metals market both aluminium and
nickel fell by 8.7% and 7.4% respectively and, in precious metals, silver
declined by 12.9% and palladium by 9.8%. 

Key commodities favoured in the Company exhibited resilience during this period
of relative weakness.  Copper was broadly flat over the month returning -0.2%,
and iron ore rose ~10% to $150/t (CIF China).  Import numbers in to China
trended higher in March, providing relative support for these commodities.

The threat of resource nationalism remains a concern in the mining market.  In
March, the Indonesian government announced a new mining decree limiting foreign
ownership of Indonesian assets to 49% (after a mine has been in production for
10 years).  The longer term implications of this policy change are that mining
companies are likely to develop fewer projects than they might otherwise have
before this change.  This may impact the future supply of key commodities such
as copper, nickel, tin and thermal coal all of which are currently mined and
exported from Indonesia.

The gold price was challenged by a number of factors during the month causing
it to trend lower.  A move by the Indian government to double gold import
duties as part of their 2012 budget set a weaker tone to the gold market.  This
new policy resulted in a unified strike action by jewelers across India.  This
news, coupled with a weak rupee, placed downward pressure on physical gold
demand in March from India.  The gold price appeared to find some support at
around $1,600/oz.

In company news it was reported that a consortium of companies led by Glencore,
the diversified miner, bid for Viterra the North American agribusiness
company.  The offer to buy the company for C$6.1bn was made at a 48% premium to
Viterra's share price prior to speculation around the potential deal (8th March
2012).  This deal enables Glencore to expand its grain handling infrastructure
in a safe jurisdiction where the grain market is going through a process of
deregulation.

Strategy/Outlook
The global macro-economic outlook is likely to drive, as it did in 2011, the
near-term performance of the mining sector.

The fundamentals of the sector provide investors with an optimistic outlook:
supply/demand balances in certain commodities are constructive; demand from the
world's largest consumer of commodities, China, is robust; supply disruptions
and challenges (courtesy of factors as various as weather, declining grades,
labour action and infrastructure challenges) played key roles in keeping prices
supported at various stages in 2011 and appear likely to so again in 2012.

Mining company valuations look attractive across a variety of metrics such as
earnings and cash flow multiples and price to NAV levels. Balance sheets have
been bolstered by more careful management and record cashflow generation. M&A
is likely to be a recurrent theme. Mining managements have also shown
themselves more willing to share that balance sheet strength with investors
through dividends and buybacks, a trend they would do well to continue.

18 April 2012

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.