BlackRock World Mining Trust (BRWM) has had a torrid history involving asset write-downs and a commodity sector rout. But it has emerged through the other side with a repaired balance sheet, improved dividend cover and diversified portfolio, making it a solid choice for high-risk income investors.
Good recent performance
BlackRock World Mining had a tough period between 2011 and 2015. In 2013 it was forced to write off its investment in the Marampa mine and a convertible bond both issued by iron ore producer London Mining, and the trust was hit by a stark downturn in commodities throughout 2011-15.