Performance at Month End

Merrill Lynch World Mining Tst PLC
17 November 2005

 MERRILL LYNCH WORLD MINING TRUST plc

 All information is at 31 October 2005 and unaudited.

 Performance at month end with net income reinvested

                                                                       One      Three        One      Three       Five
                                                                     month     months       year      years      years
Net asset value* (undiluted)                                         -6.8%      12.9%      44.9%     160.5%     250.9%
Share price*                                                         -3.5%      14.9%      55.1%     183.1%     297.3%
HSBC Global Mining Index                                             -5.7%      11.5%      38.2%     132.9%     150.1%

Sources: Merrill Lynch Investment Managers, HSBC Global Mining Index, Datastream

*Net asset value and share price performance includes the warrant reinvestment,
assuming the 2004 bonus warrant entitlement per share was sold and reinvested on
the first day of trading.

At month end
Net asset value
Undiluted:                          334.07p         Includes net revenue of:                                     3.78p
Share price:                        305.00p         Discount to NAV:                                              8.7%
Total assets:                       £580.1m         Net yield:                                                    0.6%
Gearing:                               4.4%
Ordinary shares in issue:                      168,298,906






Sector                                 % Total Assets          Country                               % Total Assets
Analysis                                                       Analysis
Diversified                                      50.9          Latin America                                   24.9
Base Metals                                      22.7          Global                                          21.4
Gold                                              9.1          Canada                                          18.1
Industrial Minerals                               5.9          South Africa                                     9.8
Platinum                                          4.5          Australia                                        9.7
Silver/Diamonds                                   4.2          Europe                                           4.1
Other                                             3.9          USA                                              3.4
Net current liabilities                          (1.2)         Other Africa                                     2.9
                                                               China                                            2.5
                                                               India                                            2.0
                                                               Indonesia                                        1.0
                                                               Laos                                             1.0
                                                               Mongolia                                         0.4
                                                               Net current liabilities                         (1.2)
                                                100.0                                                         100.0


Ten Largest Equity Investments
Company                                    Region of Risk
Alumina                                      Australasia
Anglo Amercian                               Global
BHP Billiton                                 Global
CVRD                                         Latin America
Falconbridge                                 Canada
Impala Platinum                              South Africa
Minas Buenaventura                           Latin America
Rio Tinto                                    Global
Teck Cominco                                 Canada
Xstrata                                      Global




Commenting on the markets, Graham Birch, representing the Investment Manager
noted:



Despite strong metal prices, mining equities pulled back as investors took
profits.  The zinc price ended the month at an eight year high of 71c/lb, up
11.4% over the month (in US Dollar terms).  As a result Zinifex, the Company's
largest zinc holding, significantly outperformed a falling market by rising 4.2%
in Sterling terms.  Corporate activity also helped to buoy up another of the
Company's holdings, Falconbridge, which is to merge with Inco in a friendly
takeover.  Falconbridge's share price rose by 4.9% over the month (in Sterling
terms).  During October, the Company took part in the IPO of Kazakhmys, a low
cost Kazakh copper producer focused on growth opportunities within Kazakhstan.



Global economic growth should be sufficiently robust to ensure that supply/
demand balances in the metals and minerals markets remain favourable with
positive implications for prices. The strong balance sheets and high cash flows
of many of the Company's holdings should continue to be translated into higher
dividends and increased share buy-backs.  There is also the possibility of
additional 'corporate activity' providing further support for the market.  China
should continue to be a key factor in the commodity markets and while it seems
likely that demand growth will moderate it should still be sufficient to support
higher commodity prices across the board.







Latest information is available by typing www.mlim.co.uk/its on the internet,
'MLIMINDEX' on Reuters, 'MLIM' on Bloomberg or '8800' on Topic 3 (ICV terminal).



17 November 2005








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