BLACKROCK WORLD MINING TRUST PLC (LEI - LNFFPBEUZJBOSR6PW155

All information is at 31 August 2024 and unaudited.

Performance at month end
with net income reinvested

                           One    Three   One    Three    Five
                           Month  Months  Year   Years    Years
Net asset value            -3.3%  -10.2%  -3.4%  7.1%     72.4%
Share price                -6.6%  -10.8%  -4.9%    10.9%  99.5%
MSCI ACWI Metals & Mining  -3.4%  -8.5%   3.7%   7.3%     60.4%
30% Buffer 10/40 Index
(Net)*

* (Total return)

Sources: BlackRock, MSCI
ACWI Metals & Mining 30%
Buffer 10/40 Index,
Datastream

At month end

Net asset value (including income)1:  549.06p
Net asset value (capital only):       537.60p
Share price:                          526.00p
Discount to NAV2:                     4.2%
Total assets:                         £1,179.1m
Net yield3:                           6.4%
Net gearing:                          8.6%
Ordinary shares in issue:             191,183,036
Ordinary shares held in Treasury:     1,828,806
Ongoing charges4:                     0.91%
Ongoing charges5:                     0.81%

1 Includes net revenue of 11.46p

2 Discount to NAV including income.

3 Based on a third interim dividend of 5.50p per share declared on 11 October
2023 with ex-date 23 November 2023 and pay date of 18 December 2023, and a final
dividend of 17.00p per share declared on 7 March 2024 with ex date 21 March and
pay date 14 May 2024 in respect of the year ended 31 December 2023, and a first
interim dividend of 5.50p per share declared on 10 May 2024 with ex date 30 May
2024 and pay date 24 June 2024, and second interim dividend of 5.50p per share
declared on 23 August 2024 with ex date 05 September 2024 and pay date 30
September 2024 in respect of the year ending 31 December 2024.

4 The Company's ongoing charges are calculated as a percentage of average daily
net assets and using the management fee and all other operating expenses,
excluding finance costs, direct transaction costs, custody transaction charges,
VAT recovered, taxation and certain other non-recurring items for the year ended
31 December 2023.

5 The Company's ongoing charges are calculated as a percentage of average daily
gross assets and using the management fee and all other operating expenses,
excluding finance costs, direct transaction costs, custody transaction charges,
VAT recovered, taxation and certain other non-recurring items for the year ended
31 December 2023.

Country Analysis    Total
                    Assets (%)

Global              59.8
Canada              12.3
Latin America       7.9
United States       5.9
Australasia         5.6
Other Africa        3.8
South Africa        0.8
Indonesia           0.6
Net Current Assets  3.3
                    -----
                    100.0
                    =====

Sector Analysis        Total
                       Assets (%)

Diversified            31.8
Gold                   24.3
Copper                 23.8
Steel                  5.2
Industrial Minerals    3.4
Uranium                2.4
Iron Ore               2.1
Platinum Group Metals  1.4
Aluminium              1.2
Nickel                 1.0
Zinc                   0.1
Net Current Assets     3.3
                       -----
                       100.0
                       =====

Ten largest investments

Company                  Total Assets %

Rio Tinto                7.6
Glencore                 7.0
BHP:
    Equity               5.3
    Royalty              1.5
Newmont                  6.0
Agnico Eagle Mines       5.2
Anglo American           5.1
Freeport-McMoRan         4.5
Wheaton Precious Metals  3.8
Teck Resources           3.7
Barrick Gold             3.1

Asset Analysis      Total Assets (%)
Equity              93.9
Bonds               1.5
Preferred Stock     0.7
Convertible Bond    0.6
Net Current Assets  3.3
                    -----
                    100.0
                    =====

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

Performance
The Company's Net Asset Value (NAV) declined by 3.3% in August, outperforming
its reference index, the MSCI ACWI Metals and Mining 30% Buffer 10/40 Index
(net return), which fell by 3.4% (Performance figures in GBP). It was another
weak month for the mining sector, particularly relative to broader equity
markets as the MSCI ACWI TR Index rose by 1.7% (GBP terms). Negative sentiment
around China continued to drag on the sector. Indicators for the country's
property market, such as average house prices and floor space started, showed
significant year-on-year declines. Mined commodities delivered mixed
performance with the iron ore (62% fe) price flat but copper and gold prices
up by 3.1% and 4.8% respectively. US dollar weakness provided a tailwind for
commodities, especially gold. The miners concluded their Q2 earnings reporting
season during the month which was somewhat disappointing overall. However,
positive takeaways included a greater focus on M&A, stabilising operating
costs and capital allocation frameworks continuing to prioritise returning
capital to shareholders.

Strategy and Outlook

Constrained mined commodity supply, an evolving demand picture, strong balance
sheets and valuations below historic averages make us optimistic about the
outlook for the sector. Mining companies have focused on capital discipline in
recent years, meaning they have opted to pay down debt, reduce costs and
return capital to shareholders, rather than investing in production growth.
This is limiting new supply coming online and there is unlikely to be a quick
fix, given the time lags involved in investing in new mining projects.

The cost of new projects has also risen significantly and recent M&A activity
in the sector suggests that, like us, strategic buyers see an opportunity in
existing assets in the listed market, currently trading well below replacement
costs. Other issues restricting supply include cases of governments closing
mines, permitting issues and a general lack of shovel-ready projects.

Meanwhile, the demand side of the equation appears to be evolving. The
commodity super-cycle (2002 - 2011) was all about China's extraordinary demand
growth. Today, China remains the most important individual economy for mining,
but we are expecting this importance to gradually decline through to the end
of the decade. We expect global infrastructure spending to drive the next wave
of demand, with low carbon transition-related infrastructure particularly
meaningful. The other area gaining attention is the implications for materials
from the build out of AI-related data centres, both for the centres themselves
but also for the increased power infrastructure required.

All data points are in USD terms unless stated otherwise.
30 September 2024

Latest information is available by typing www.blackrock.com/uk/brwm on the
internet. 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.


This information was brought to you by Cision http://news.cision.com
The following files are available for download:
https://mb.cision.com/Main/22397/4044521/3029640.pdf Release