TIDMBRWM 
 
The information contained in this release was correct as at 31 May 2020. 
Information on the Company's up to date net asset values can be found on the 
London Stock Exchange Website at: 
 
https://www.londonstockexchange.com/exchange/news/market-news/ 
market-news-home.html. 
 
BLACKROCK WORLD MINING TRUST plc  (LEI - LNFFPBEUZJBOSR6PW155) 
 
All information is at 31 May 2020 and unaudited. 
 
Performance at month end with net income reinvested 
 
                                         One         Three       One     Three       Five 
 
                                       Month        Months      Year     Years      Years 
 
Net asset value                        10.7%         12.9%      8.6%     22.9%      49.2% 
 
Share price                             9.4%         13.0%     10.6%     21.6%      50.4% 
 
MSCI ACWI Metals & Mining 30%           7.0%          9.7%      4.3%     16.3%      41.3% 
Buffer 10/40 Index (Net)* 
 
EMIX Global Mining Index  (Net)*        9.8%         16.2%     12.0%     38.6%      64.5% 
 
* (Total return) 
Sources: BlackRock, MSCI ACWI Metals & Mining 30% Buffer 10/40 Index, EMIX 
Global Mining Index, Datastream 
 
At month end 
 
Net asset value including income1:                                                397.88p 
 
Net asset value capital only:                                                     394.07p 
 
1 Includes net revenue of 3.81p 
 
Share price:                                                                      342.00p 
 
Discount to NAV2:                                                                   14.0% 
 
Total assets:                                                                     GBP787.8m 
 
Net yield3:                                                                          6.4% 
 
Net gearing:                                                                         9.6% 
 
Ordinary shares in issue:                                                     173,605,020 
 
Ordinary shares held in treasury:                                              19,406,822 
 
Ongoing charges4:                                                                    0.9% 
 
2 Discount to NAV including income. 
3 Based on two quarterly interim dividends of 4.00p per share declared on 
20 August 2019 and 14 November 2019 and a final dividend of 10.00p per share 
announced on 27 February 2020 in respect of the year ended 31 December 2019 and 
a quarterly interim dividend of 4.00p per share declared on 30 April 2020 in 
respect of the year ending 31 December 2020. 
4 Calculated as a percentage of average net assets and using expenses, 
excluding finance costs, for the year ended 31 December 2019. 
 
Sector                         % Total        Country Analysis                      % Total 
 
                                Assets                                               Assets 
 
Gold                              33.2        Global                                   63.6 
 
Diversified                       32.5        Latin America                             8.0 
 
Copper                            16.7        Australasia                               6.5 
 
Nickel                             3.7        Canada                                    6.1 
 
Industrial Minerals                3.3        United Kingdom                            4.6 
 
Platinum Group Metals              2.3        South Africa                              3.1 
 
Iron Ore                           1.7        Russia                                    1.4 
 
Steel                              1.7        Other Africa                              1.1 
 
Materials                          0.4        USA                                       0.9 
 
Silver & Diamonds                  0.3        Indonesia                                 0.7 
 
Aluminium                          0.2        Argentina                                 0.1 
 
Zinc                               0.1        Current Assets                            3.9 
 
Current Assets                     3.9                                                ----- 
 
                                 -----                                                100.0 
 
                                 100.0                                                ===== 
 
                                 ===== 
 
The Largest Investments 
 
                                               % Total 
Company                                         Assets 
 
Rio Tinto                                          9.1 
 
BHP                                                8.7 
 
Vale: 
 
  Equity                                           4.4 
 
  Debenture                                        3.3 
 
Newmont Mining                                     6.8 
 
Barrick Gold                                       6.5 
 
Anglo American                                     5.6 
 
Wheaton Precious Metals                            4.6 
 
OZ Minerals Brazil: 
 
  Royalty                                          2.4 
 
  Equity                                           1.3 
 
Franco-Nevada                                      3.6 
 
First Quantum Minerals                             2.9 
 
 
 
 
Commenting on the markets, Evy Hambro and Olivia Markham, representing the 
Investment Manager noted: 
 
Performance 
 
The Company's NAV increased by 10.7% in May, outperforming its reference 
index, the MSCI ACWI Metals and Mining 30% Buffer 10/40 Index (net return), 
which returned +7.0%. (Figures in GBP) 
 
Global equity markets continued to recover in May, as signs of activity 
restarting and the hopes for antiviral treatments and a vaccine improved 
equity market sentiment. For reference, the MSCI All Country World Index 
rose by 4.2%. Elsewhere, tensions between the US and China escalated as 
markets reacted to China's move to impose new national security legislation 
on Hong Kong. China also dropped its annual GDP target and instead adopted a 
target to keep urban unemployment below 6% and promised monetary policy 
support of credit growth "significantly higher" than last year. 
 
Mined commodity prices were up almost across the board, as positive economic 
data from China indicated a recovery in industrial activity. The Caixin 
China Manufacturing Purchasing Managers' Index, for example, rose to 50.7 in 
May, up from 49.4 in April. The copper price rose by 3.7% over the month, 
whilst the iron ore (62% fe) price rose by 21.3% to $102.5/tonne. The iron 
ore (62% fe) price was boosted by improving steel demand, as well as supply 
concerns as COVID-19 cases began to rise sharply in Brazil. 
 
Strategy and Outlook 
 
We anticipate continued volatility for the mining sector and broader equity 
market as the full economic implications of COVID-19 become clearer. Given 
how strong balance sheets are in the mining sector, however, the miners 
should be well positioned to weather economic weakness relative to other 
sectors. The capital discipline story remains intact, with mining companies 
still focused on improving shareholder returns through dividends and 
buybacks. The mining sector should also be a key beneficiary of increased 
infrastructure spending in China and the US, which we expect to come through 
during the remainder of 2020. 
 
All data points are in USD terms unless stated otherwise. 
 
23 June 2020 
 
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. 
 
 
 
END 
 

(END) Dow Jones Newswires

June 23, 2020 12:30 ET (16:30 GMT)

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