U.S. firm eyes RI diamond

U.S. firm eyes RI diamond

BANGKOK (DPA): American millionaire David Belle has been
snapping up diamonds, some of them centuries-old heirlooms, from
recession-hit Thais and plans to target cash-strapped Indonesians
next, news reports said yesterday.

Belle, after buying about 300 million baht (US$7.1 million)
worth of diamonds in South Korea, recently established the
American Thai Buying Jewellery Company in Bangkok to purchase the
cast-off diamonds of Thailand's "formerly wealthy," said the
Bangkok Post.

Company sources said the firm had already bought about 100
million baht (US$2.4 million) worth of diamonds, including some
centuries-old heirlooms, for resale on the U.S. and European
markets.

"Some diamonds that the company has bought are more than 100
years old, belonging to a well-known family," a company
spokesperson said, adding that the firm was attracting about 100
customers per day.

After Thailand the U.S.- based group plans to set up a similar
operation to exploit the diamond mines of Indonesia, the news
reports said.