Portfolio Update

BLACKROCK WORLD MINING TRUST plc
All information is at 31 March 2014 and unaudited.

Performance at month end with net income reinvested
                                 One     Three      One    Three     Five
                               Month    Months     Year    Years    Years
Net asset value (undiluted)    -2.7%     -1.0%   -18.1%   -43.2%    40.7%
Share price                    -5.3%      2.4%    -7.8%   -35.2%    57.9%
Euromoney Global Mining Index  -1.5%      0.9%   -17.8%   -43.8%    24.7%
(Total return)
 
Sources: BlackRock, Euromoney Global Mining Index, Datastream

At month end
Net asset value           Including Income            Capital Only
Undiluted/diluted:                 481.02p*                475.95p
*Includes net revenue of 5.07p

Share price:                       462.90p
Discount to NAV**:                    3.8%
Total assets:                      £979.3m
Net yield***:                         4.5%
Gearing:                             14.8%

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

** Discount to NAV including income.
*** Based on interim dividend of 7.00p and final dividend of 14.00p per share
in respect of the year ended 31 December 2013.

Sector                   % Total     Country Analysis       % Total
                          Assets                             Assets

Diversified                 44.5     Global                    56.6
Base Metals                 21.0     Other Africa              18.0
Industrial Minerals         16.6     Latin America             11.2
Gold                         8.6     Australasia                5.3
Silver & Diamonds            7.1     South Africa               3.8
Other                        2.0     Canada                     3.2
Energy Minerals              0.9     Emerging Europe            1.4
Platinum                     0.8     USA                        0.9
Net current liabilities     (1.5)    China                      0.7
                                     Indonesia                  0.3
                                     Colombia                   0.1
                                     Net current liabilities   (1.5)
                           -----                              -----
                           100.0                              100.0
                           =====                              =====

Ten Largest Investments                      % Total
                                              Assets

Company
Rio Tinto                                       11.6
BHP Billiton                                    11.0
GlencoreXstrata                                  9.7
London Mining Marampa Contract                   6.7
Freeport McMoRan                                 5.7
First Quantum Minerals                           4.7
Vale                                             3.5
Iluka Resources                                  2.4
Fresnillo                                        2.4
IndustriasPenoles                                2.2
 
Commenting on the markets, Evy Hambro, representing the Investment Manager 
noted:

Performance
The mining sector came under pressure over the month as weaker Chinese economic
data and the announcement of a domestic bond default translated into renewed
concerns around Chinese economic growth. It emerged that Shanghai Chaori Solar,
a small Shanghai-based solar company, failed to pay out interest on a security
it issued two years ago. This news negatively impacted copper in particular,
with the metal falling 6.1% during the month owing to concerns over whether
recent strong demand for copper had been driven by financing trade as opposed
to consumption and, as such, this material could return to the market.

Nickel was the star performer in the mining space as the price rose 8.0% over
the month as supply concerns mounted owing to the Indonesian raw materials
export ban. Palladium was also a strong performer rising 4.3% as strikes in
South Africa remained unresolved for the third consecutive month with no end in
sight.

Over the period, the gold price gave back some of the strong performance seen
earlier in 2014, as it fell 2.8% to finish at $1,289/oz. During the month, it
was confirmed that the US Federal Reserve (Fed) would reduce its monetary
stimulus programme by a further $10 billion. This announcement, coupled with
Janet Yellen, Chair of the Fed, hinting that US interest rates could begin to
rise in early 2015, acted as a headwind for the metal. The Central Bank of Iraq
announced the purchase of 36 tonnes of gold during the month. This represents
the largest purchase by a nation since Mexico purchased 78.5 tonnes in March
2011. Gold exchange-traded funds recorded net inflows for the second
consecutive month with modest inflows of approximately 9 tonnes over the period
(source: Scotiabank).

Strategy / Outlook
The mining sector has significantly lagged the general equity market in recent
years. However, a number of the downside risks for this sector have reduced
(albeit not disappeared). The industry has made good progress in refocusing its
strategy: operating costs have been aggressively targeted and investment in
projects reassessed with capital returns to shareholders rising up the priority
list. Many commodities are trading close to or below their marginal cost of
production, implying that price downside should be limited, in the absence of a
collapse in demand.

The global economic backdrop is showing signs of synchronous growth and this
has typically been supportive of commodity prices. Mining companies are trading
on an undemanding valuation and an attractive dividend yield. With capital
expenditure rolling off, management are guiding investors towards rising free
cash flows.

All data in USD terms unless otherwise stated.

10 April 2014

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.