Portfolio Update

BLACKROCK WORLD MINING TRUST plc
All information is at 31 October 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)    2.1%     6.9%   -11.6%   22.0%   -14.9%
Net asset value (diluted)      2.1%     6.9%   -11.6%   22.0%    -8.5%
Share price                    0.6%     5.5%    -8.3%   27.6%    -8.6%
HSBC Global Mining Index*      1.7%     9.5%   -11.6%   11.8%    -3.2%
*Total return

Sources: BlackRock, HSBC Global Mining Index, Datastream

At month end
Net asset value           Including Income            Capital Only
Undiluted/diluted:                 675.02p*                663.13p
*Includes net revenue of 11.89p

Share price:                       582.50p
Discount to NAV**:                   13.7%
Total assets:                   £1,278.66m
Net yield***:                         3.6%
Gearing:                              6.4%

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

** Discount to NAV including Income.
*** Based on final dividend of 14.00p per share in respect of the year ended
31 December 2011 and interim dividend of 7.00p per share in respect of the
year ended 31 December 2012.

Sector                   % Total    Country Analysis          % Total
                          Assets                               Assets

Diversified                 35.0    Global                       40.6
Base Metals                 21.5    Latin America                22.1
Industrial Minerals         11.2    Other Africa                 10.3
Silver & Diamonds            9.9    Australasia                   7.4
Gold                         9.7    South Africa                  5.2
Platinum                     2.5    Democratic Republic of Congo  1.1
Energy Minerals              0.2    Emerging Europe               1.0
Net current assets          10.0    Republic of Congo             0.7
                           -----    USA                           0.7
                           100.0    Canada                        0.6
                           =====    Indonesia                     0.3
                                    Net current assets           10.0
                                                                -----
                                                                100.0
                                                                =====

Ten Largest Investments                      % Total
                                              Assets

Company
Rio Tinto                                         9.3
BHP Billiton                                      9.0
Glencore Finance (Europe) 5% 31/12/14             5.9
London Mining Contract                            5.3
Freeport McMoRan                                  4.5
First Quantum Minerals                            4.4
Fresnillo                                         4.4
Industrias Penoles                                4.1
Minas Buenaventura                                4.0
Vale                                              3.2

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

Performance
The implementation of QE3 in the United States and supportive monetary action
from policy makers elsewhere injected some positive momentum into commodity and
equity markets in the third quarter.  That momentum was checked in October, but
some encouraging economic indicators helped the mining sector remain buoyant.

The great and the good of the mining industry gathered in London in October for
the annual London Metal Exchange Week.  BlackRock hosted a forum at which
leading management figures from the industry shared their views with our
investors from across the firm.  A recurrent theme from the week and the forum
was the importance of capital allocation.  The most successful mining companies
will likely be those that balance the need to invest and develop attractive
production growth opportunities with the necessity of servicing shareholder
capital through dividends and disciplined use of cashflow.  Commodity focus and
geographic location will also be crucial.  Selection is becoming paramount in
the mining industry - both on the part of mining companies who must choose
carefully between different projects (and different commodities) and mining
investors whose success will depend on picking those companies able to deliver
production growth in supply constrained commodities.

The iron ore price continued its recovery in October.  From 28 September to 2
November, the spot price for 63.5% Fe iron ore went from $107.5/ton to $121.5/
ton (Source: CLSA) as Chinese steel mills restocked and the effects of
rationing in some high cost supply fed through.  Iron ore was one of the top
mining commodity performers over the month.  The base metals by contrast
weakened: copper retracted -5.5% and tin -9.1%, for example.

In the uncertain growth environment that the global economy has spent much of
the year in, equity investors have treated mining shares with some caution.
The same has not always been true of debt investors, least not for the major
diversifieds.  BHP Billiton made history in October by completing the largest
ever issue in the Australian debt markets.  What was of particular interest,
however, was the yield investors required for being a creditor to the mining
giant.  BHP Billiton paid only 90 basis points more than swap rates for its
five year bonds, which is less than has been required of higher rated
Australian banks.

Strategy/Outlook
Monetary stimulus in its various forms is typically good for commodities, at
least in the short term.  In addition, recent economic data has provided some
encouraging indicators on growth conditions in China, the US and elsewhere.
Meanwhile, the greater clarity that a successful leadership transition in
China could bring may also prove beneficial. 

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.  These structural issues are supportive of prices where demand
remains robust.

Mining company valuations continue to trade below historical averages and there
is in our view the potential for strong returns over the medium term.  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.

15 November 2012

ENDS

Latest information is available by typing www.brwmplc.co.uk on the internet,
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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.