Advertisement
Advertisement

A way to turn coal into diamonds

BEIJING - A man from Ordos, in Inner Mongolia, bought 104 diamonds from a jewellery shop in Beijing. They cost him nearly 15 million yuan (HK$18.4 million).

The buyer was a man who did not want to give his full name. He bought diamonds because he believed the price of gold has become unstable. A shop assistant said it took the man all day to carefully select and examine the diamonds.

Ordos, in northern China, has produced many millionaires in recent years. This is because lots of coal has been found there.

Many poor farmers have become rich from selling their land to coal mining companies. This has made Ordos one of China's richest cities.

However, the fast money has led to too much building. There are thousands of houses and apartments that are empty. Some people say Ordos is now a 'ghost town' because of bad planning.

Post