The collapse occurred last afternoon in Kachin state, said Lamai Gum Ja, a community leader and businessman.
He said he was told by people at the scene that 50 to 60 bodies had been pulled from the debris and that more than 100 others are missing.
The region is home to some of the world's highest quality jade, bringing in billions of dollars a year, though researchers say most of that money goes to individuals and companies tied to Myanmar's former military rulers.
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