Myanmar's military rulers opened a major auction of jade on Sunday, in what has become an increasingly important source of income for the cash-strapped junta.
The military refused to give details on how much it hoped to earn from the auction, but official media said some 2,300 merchants were attending - twice as many as at the last sale in March.
That auction of jade and precious stones had been projected to earn 53 million euros (63 million dollars), in what would have been the biggest gems auction to date.
The official New Light of Myanmar newspaper said more than 1,400 of the jade buyers came from overseas for the latest sale, despite stiff US and European Union sanctions on the country for human rights abuses and failure to deliver on promised democratic reforms.
The effect of the sanctions has been diminished by the eagerness of neighbouring countries - particularly China, India and Thailand - to tap Myanmar's vast natural wealth to fuel their own growing economies. Some 3,200 lots of jade were up for sale, according to state media, which did not estimate the value of the lots.
Myanmar began holding twice-yearly auctions in a bid to curb the smuggling of precious stones out of the country, which deprives the government of much-needed foreign currency.
But the auctions have become so successful that the junta has increased the size and frequency of the sales, auctioning off precious stones several times a year.
Myanmar is one of Asia's poorest and most isolated countries but has vast natural wealth - including natural gas, minerals and highly prized teak wood - that often disappears into black markets.
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