Trust Issues: Investing in the mining sector with BRWM’s Olivia Markham — Kepler Trust Intelligence Podcast

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In this episode of Trust Issues, we speak to Olivia Markham, manager of BlackRock World Mining, about the investment case for the mining sector, including gold’s record-breaking run, demand for copper, M&A and the most compelling opportunities across the sector.

00:00 Introduction 00:36 Drivers of recent performance 02:00 Outlook for gold prices 03:13 Valuations of gold miners 04:21 Long-term drivers of copper demand 06:06 Slowing demand from China 07:10 Benefit of active exposure 08:27 Likely increase in capex 09:57 Outlook for dividends 11:09 Navigating tariffs 12:57 Impact of resource nationalism 13:52 M&A in the sector 15:18 Most compelling opportunities 17:18 Further information 17:36 Risk warning

Our latest note on BRWM - https://www.trustintelligence.co.uk/investor/articles?fund_id=5

BRWM website - https://www.blackrock.com/uk/solutions/investment-trusts/our-range/blackrock-world-mining-investment-trust/trust-information Please note that this podcast was recorded on 10 October 2025.