Portfolio Update

BLACKROCK WORLD MINING TRUST plc
All information is at 31 July 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)    -2.3%   -15.4%   -29.3%   31.1%   -2.0%
Net asset value (diluted)      -2.3%   -15.4%   -29.3%   31.1%    3.0%
Share price                    -1.5%   -16.3%   -25.0%   34.7%   -2.3%
HSBC Global Mining Index*      -1.9%   -11.5%   -29.5%   13.3%    8.8%
*Total return

Sources: BlackRock, HSBC Global Mining Index, Datastream

At month end
Net asset value           Including Income            Capital Only
Undiluted/diluted:                 638.32p*                625.60p
*Includes net revenue of 12.72p

Share price:                       559.00p
Discount to NAV**:                   12.4%
Total assets:                   £1,241.43m
Net yield***:                         2.5%
Gearing:                              9.7%

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

** Discount to NAV including Income.
*** Based on 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                 35.5    Global                       38.8
Base Metals                 18.2    Latin America                19.0
Industrial Minerals         17.2    Other Africa                 16.0
Gold                         9.1    Australasia                   8.3
Silver & Diamonds            8.6    South Africa                  5.5
Platinum                     2.5    Republic of Congo             1.0
Energy Minerals              0.9    Emerging Europe               1.0
Net current assets           8.0    Democratic Republic of Congo  0.9
                           -----    Canada                        0.7
                           100.0    USA                           0.4
                           =====    Indonesia                     0.3
                                    Mongolia                      0.1
                                    Net current assets            8.0
                                                                -----
                                                                100.0
                                                                =====

Ten Largest Investments                      % Total
                                              Assets
Company
Rio Tinto                                        9.1
BHP Billiton                                     8.7
London Mining                                    6.8
Glencore Finance (Europe) 5% 31/12/14            5.9
Minas Buenaventura                               4.3
Teck Resources                                   4.3
First Quantum Minerals                           4.2
Vale                                             4.1
Industrias Penoles                               3.6
Freeport McMoRan                                 3.5
 
Commenting on the markets, Evy Hambro, representing the Investment Manager
noted:

Performance
Mixed economic data out of both the US and China during the month did little to
lighten the gloom over the global economy.  Equities began the month by
trending lower, however later on in the period Mario Draghi's comment
(President of the ECB) on the scope of the ECB's mandate to combat high
borrowing costs for Eurozone countries provided some relief and global equities
rallied.

Commodities and mining equities have continued to be driven by Chinese economic
data in the near term.  While interest rate cuts in both June and July may go
some way to easing the availability of credit, there has been little sign of
fiscal stimulus at present and as a result most commodities trended lower over
the period.  Weak steel prices continued to drag on commodities involved in the
production of steel.  Iron ore and coking coal both came under pressure falling
by 18% (62% Fe and spot coking coal) over the month.

Many commodities are currently trading close to their marginal cost of
production (including, nickel, zinc, aluminium, iron ore and thermal coal). 
This is providing support at current levels with any further falls likely to
trigger production cuts.  We have a preference for those commodities that have
a steeper cost curve allowing those producers operating at the lower end or
middle of the cost curve to generate strong positive cash margins through all
market cycles.  Iron ore is a good example of this; the companies the portfolio
has exposure to are producing at around $40-60/t yet the marginal cost
producers are significantly above the current price of $116.2/t (Fe 62%).  This
is supportive of the strong margin that lower cost producers are currently
benefitting from.

In equity news, Barrick the large cap North American gold producer provided an
update to the market in July.  They revised the capital cost estimate for
Pascua Lama, a key development project, up by 50% from the original $4.5-5bn
forecast and pushed project start up out by a year to mid-2014.  Production
guidance at their Lumwana copper project in the Zambia was also revised by
-37%.  Both of these factors contributed to weak first half results for
Barrick.

Strategy/Outlook
The global macro-economic outlook and fragile investor sentiment continue to
drive the near-term performance of the mining sector.

Recent moves towards monetary loosening and the possibility of fiscal stimulus
should be supportive of commodities demand. China has enacted two sets of
interest rate cuts in less than a month, the ECB has cut interest rates to
0.75% and the Bank of England has instigated a further round of quantitative
easing. Market watchers are now focused on whether the Federal Reserve will
follow suit.

Stimulus and accommodating monetary policy aside, commodities demand has
remained comparatively robust. In addition, the supply side continues to be
challenged by both short term factors, such as weather events, and longer term
ones, such as labour shortages and grade declines. 

Mining company valuations are currently trading below historical averages and
the potential for strong returns over the medium term are good.  We remain
focused on companies with balance sheet strength and high asset quality as we
believe these factors will be key differentiators.  In addition, mining
managements have shown themselves to be willing to share balance sheet strength
with investors through dividends and buybacks, a trend they would do well to
continue.

13 August 2012

ENDS

Latest information is available by typing www.brwmplc.co.uk 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.