Portfolio Update

BLACKROCK WORLD MINING TRUST plc
All information is at 30 June 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)    -6.2%    -14.5%     44.8%     -3.4%    148.8%          
Net asset value* (diluted)      -6.2%    -14.5%     44.8%      1.3%    145.6%          
Share price*                    -5.8%    -11.6%     44.0%     -0.2%    150.5%          
HSBC Global Mining Index        -7.1%    -13.9%     39.7%     22.3%    175.0%          

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:                               629.76p#          626.51p
# Includes net revenue of 3.25p                                                
                                                                               
Share price:                                     549.00p                       
Discount to NAV**:                                 12.4%                       
Total assets:                                 £1,148.47m                       
Net yield:                                          0.9%                       
Gearing:                                            2.5%                       

Ordinary shares in issue: 177,762,242                                          
Ordinary shares held in Treasury: 15,249,600                                   

** Discount to NAV based on capital only.                                      

                                                                               
Sector                    % Total  Country Analysis           % Total
                           Assets                              Assets
                                                                               
Diversified                  44.4   Latin America                28.9 
Base Metals                  17.9   Global                       24.4 
Gold                         13.9   South Africa                 10.4 
Platinum                      7.5   Other Africa                  9.1 
Silver and Diamonds           7.8   Australasia                   8.9 
Industrial Minerals           6.1   Canada                        5.5 
Other                         0.5   India                         3.0 
Net current assets            1.9   Indonesia                     2.9 
                                    USA                           2.8 
                                    Emerging Europe               1.2 
                                    Europe                        1.0 
                                    Net current assets            1.9 
                            -----                               ----- 
                            100.0                               100.0 
                            =====                               ===== 

                                                                               
Ten Largest Equity Investments (in alphabetical order)                          
                                                                               
Company                                                                        
BHP Billiton                                                                   
First Quantum Minerals                                                         
Fresnillo                                                                      
Glencore Finance (Europe) 5% 31/12/14                                          
Impala Platinum                                                                
Minas Buenaventura                                                             
Newcrest Mining                                                                
Rio Tinto                                                                      
Teck Resources                                                                 
Vale                                                                           


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

Performance
Equity markets continued to be weak during the month. Fear emerged that the
tightening of monetary policy in China was causing demand for raw materials to
slow as economic growth cools from the elevated levels seen in the first months
of the year. Consumer confidence data in the US came in significantly below the
expectations of economists and this caused concern that the economic recovery
in the US might be stalling.

Not all of the macroeconomic newsflow during the month was negative. China took
the first tentative step to revalue its currency when it announced an increase
in the flexibility of the currency peg to the US dollar. An appreciation in
value of the Renminbi is potentially positive for commodity markets, as it
makes US dollar denominated commodities relatively less expensive for Chinese
customers. However, before a significant revaluation of the currency, China
will likely want to see a stronger outlook for the global economy as
appreciation of the Renminbi will make Chinese exports relatively more
expensive.

Commodity markets were volatile during the month as the market reacted to mixed
newsflow. Base metals closed the month down, but there are some encouraging
signs for selected markets. Copper producers commented in meetings with
management that the treatment and refining costs charged by smelters continued
to fall, a sign of a tight market for copper concentrate. On the other, hand
nickel fell sharply as inventories began to rise and the stainless steel
producers appear to be going through a destocking phase. There is potential for
further negative news in the nickel market if Vale resolves its dispute with
striking workers at their operations in Ontario, Canada.

The negative reaction from mining companies against the proposed "Resource
Super Profits Tax" (RSPT) was the likely catalyst for Kevin Rudd, the
Australian Prime Minister, to resign. Mr Rudd stepped down in late June and was
succeeded by Julia Gillard. One of the first issues tackled by Ms Gillard was
the contentious RSPT and changes to the proposed tax made the impact on the
mining companies less onerous. The new "Minerals Resource Rent Tax" (MMRT)
applies only to iron ore and coal operations; the headline tax has been reduced
from 40% to 30%; the hurdle rate of return before the tax is applied has
increased to 13%; and this tax will no longer be applied retrospectively. The
tax is not due to come into effect until July 2012 and, with further periods of
consultation likely, there does remain a degree of uncertainty.

Strategy/Outlook
We believe that while short term volatility in the sector is likely, stock
selection and commodity selection will be key in order to take advantage of
opportunities in these markets. The recent pull back has provided potential
opportunities for the Company to invest in high quality assets at attractive
valuations.

The medium to long term outlook for the mining sector appears robust, with
emerging markets continuing to exhibit strong growth and supply remains
constrained in its ability to meet demand increase in some commodities. Whilst
some investors may be fearful of monetary policy change in China, we view this
as a long term positive as it is indicative of a strong economy and a
government that is looking to manage that growth. However, in the short term,
general market sentiment is having a greater affect on equity markets.

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).

28 July 2010