Portfolio Update

BLACKROCK WORLD MINING TRUST plc
All information is at 31 August 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)    -2.2%    -3.8%   -26.2%   23.1%    1.3%
Net asset value (diluted)      -2.2%    -3.8%   -26.2%   23.1%    5.8%
Share price                    -3.5%    -6.0%   -22.4%   26.3%    1.1%
HSBC Global Mining Index*       0.5%     0.7%   -25.1%   12.5%   12.8%
*Total return

Sources: BlackRock, HSBC Global Mining Index, Datastream

At month end
Net asset value           Including Income            Capital Only
Undiluted/diluted:                 617.82p*                610.01p
*Includes net revenue of 7.81p

Share price:                       533.00p
Discount to NAV**:                   13.7%
Total assets:                   £1,178.41m
Net yield***:                         3.9%
Gearing:                              7.6%

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

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

Sector                   % Total    Country Analysis          % Total
                          Assets                               Assets

Diversified                 35.8    Global                       40.6
Base Metals                 18.5    Latin America                19.7
Industrial Minerals         17.0    Other Africa                 16.6
Gold                         9.5    Australasia                   7.6
Silver & Diamonds            9.0    South Africa                  4.6
Platinum                     2.5    Republic of Congo             1.0
Energy Minerals              0.7    Emerging Europe               0.9
Net current assets           7.0    Democratic Republic of Congo  0.7
                           -----    Canada                        0.6
                           100.0    USA                           0.4
                           =====    Indonesia                     0.3
                                    Net current assets            7.0
                                                                -----
                                                                100.0
                                                                =====

Ten Largest Investments                      % Total
                                               Assets

Company
BHP Billiton                                      9.0
Rio Tinto                                         9.0
Glencore Finance (Europe) 5% 31/12/14             6.6
London Mining Royalty                             5.9
First Quantum Minerals                            4.7
Minas Buenaventura                                4.3
Freeport McMoRan                                  3.9
Fresnillo                                         3.8
Industrias Penoles                                3.7
Vale                                              3.6

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

Performance
Continued concerns about the health of the Chinese economy weighed upon
sentiment in the mining sector during the month of August.  Manufacturing
survey data, higher levels of unsold goods inventories and news that the five
biggest banks had seen a 27% jump in overdue loans in the first half of the
year helped investors towards a more bearish stance on the health of the
Chinese economy.

However, this pessimism was somewhat offset by growing expectations that
central banks may propose further stimulus in coming weeks and mounting
optimism that Europe's debt crisis may be containable (despite data that showed
unemployment in the Eurozone remained at 11.3% in July).

In this somewhat uncertain market environment, commodity performance diverged;
copper was fairly flat during the month (+0.7%), iron ore declined (-24.1%) and
precious metals gained.  Gold advanced 3.3% and silver was up 8.2% over the
course of the month as investors looked for ways to hedge their portfolios
against the potential inflationary impacts of any forthcoming stimulus.
Interestingly, the outperformance of silver over gold was in part due to
silver's qualities as both a potential hedge against inflation and as a way of
getting exposure to any recovery in the global economy (~53% of silver demand
is from the industrial sector).  U.S. sales of bullion coins jumped 28% during
the month and gold held in exchange-traded products hit a record level, with
the total held now only exceeded by the national reserves of the U.S. and
Germany.

Much was made of Ben Bernanke's speech at the annual central bank forum in
Jackson Hole, Wyoming, in the final week of August.  The chairman of the US
Federal Reserve's comments that U.S. unemployment remains a "grave concern" and
his pledge to promote growth with "additional policy accommodation as needed"
was interpreted by some market watchers to mean that the Fed stands ready to
deploy further stimulus (the meeting came just two weeks before a meeting of
the Federal Open Market Committee).

Whilst the US Federal Reserve and the ECB were seen as having left the door
open to potential stimulus measures, China's government has thus far refrained
from speculation on the topic.  Interestingly, the Chinese government has set a
goal of an average 7% GDP growth for the five-year plan that runs through 2015
and they appear to still be broadly on track to meet this target in 2012
(current 2012 GDP growth estimates for China are still predominately in excess
of 7%).  To put that into context, the International Monetary Fund's latest
forecasts estimate U.S. growth at 2%, Japan's growth at 2.4% and the Eurozone
to see a contraction of 0.3%.

A strike at Lonmin's Marikana platinum mine in South Africa escalated during
August and sadly 44 people lost their lives during confrontations between
workers and the police.  The strike was sparked by a wage dispute and has
caused some concern that it could ignite unrest across the country,
particularly given the strong union involvement.  The Company does not hold any
Lonmin shares.  The ongoing supply disruptions are impinging upon platinum
supply from South Africa (the source of ~3/4 of the world's supply) and the
price moved up by 6.3% during August.  Whilst strength in the platinum price
bodes well for our platinum exposure it should be noted that the bulk of our
platinum exposure is in an alternative South African miner where performance
may still be impacted by sentiment towards the SA mining industry.

In their quarterly results, BHP Billiton announced their "much signposted"
plans to postpone the development of Olympic Dam and the extension of its iron
ore harbour project in Western Australia as a response to the uncertain
economic outlook and lower commodity prices.  The Olympic Dam project was
slated to become an open pit mine capable of producing 750,000 tonnes of copper
and 19,000 tonnes of uranium a year.  The company reported a 26% fall in
pre-tax profits to $23bn but has committed $22.8bn to projects under way this
financial year.

In a sign of further M&A activity in the mining sector, Cameco, the world's
third largest uranium producer, announced a $430mn agreement to buy BHP's
Yeelirrie project in Australia during the month.  Cameco has now made $1.45
billion of uranium-industry bids since last year's Fukushima nuclear accident
in Japan as they seek to almost double output to 40 million pounds a year by
2018 from current mines and those under development.

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 and the ECB have already
enacted interest rate cuts and the Bank of England has instigated a further
round of quantitative easing.  Market watchers are now focused on whether the
Federal Reserve and other central banks will follow suit and add stimulus
measures in coming weeks.

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.

14 September 2012

ENDS

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website) is incorporated into, or forms part of, this announcement.