<TABLE> <S> <C>
<ARTICLE> 6
<CIK> 0000216907
<NAME> T. ROWE PRICE NEW ERA FUND
<S> <C>
<PERIOD-TYPE> 6-MOS
<FISCAL-YEAR-END> DEC-31-2000
<PERIOD-END> JUN-30-2000
<INVESTMENTS-AT-COST> 777816
<INVESTMENTS-AT-VALUE> 1088940
<RECEIVABLES> 6263
<ASSETS-OTHER> 0
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 1095203
<PAYABLE-FOR-SECURITIES> 52
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 1194
<TOTAL-LIABILITIES> 1246
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 731984
<SHARES-COMMON-STOCK> 47560
<SHARES-COMMON-PRIOR> 49656
<ACCUMULATED-NII-CURRENT> 7267
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 43583
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 311124
<NET-ASSETS> 1093957
<DIVIDEND-INCOME> 9729
<INTEREST-INCOME> 1182
<OTHER-INCOME> 0
<EXPENSES-NET> 3891
<NET-INVESTMENT-INCOME> 7020
<REALIZED-GAINS-CURRENT> 26707
<APPREC-INCREASE-CURRENT> 22478
<NET-CHANGE-FROM-OPS> 56205
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> 0
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 5325
<NUMBER-OF-SHARES-REDEEMED> 7421
<SHARES-REINVESTED> 0
<NET-CHANGE-IN-ASSETS> 11702
<ACCUMULATED-NII-PRIOR> 247
<ACCUMULATED-GAINS-PRIOR> 16876
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 3022
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 3891
<AVERAGE-NET-ASSETS> 1071401
<PER-SHARE-NAV-BEGIN> 21.8
<PER-SHARE-NII> 0.15
<PER-SHARE-GAIN-APPREC> 1.05
<PER-SHARE-DIVIDEND> 0
<PER-SHARE-DISTRIBUTIONS> 0
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 23
<EXPENSE-RATIO> 0.73
</TABLE>
