Colombia has begun an underwater expedition to explore what has been described as the “Holy Grail of shipwrecks” possibly containing up to £15 billion of treasure.
The Spanish warship the San José sank in the Caribbean over 300 years ago with a host of artifacts, and was discovered by the Colombian government in waters off the coast of the port city of Cartegena.
It boasted 62 guns and three masts, making it the largest galleon of a Spanish fleet, and is believed to have sunk with gold, silver, emeralds and other valuable goods from the mines of Potosi, Peru on board.
Although the treasures are estimated to be worth a staggering £15 billion, it is highly contentious who they will rightfully belong to.
The San José sank during a battle with British ships in the 1708 War of the Spanish Succession with 600 people on board. It was on a journey from Panama to Colombia.
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The Colombian Institute of Anthropology and History (ICANH) revealed that the first stage of the expedition will involve using “non-intrusive” remote sensors to get photographs.
The images will help build an inventory of what hides in the wreckage, paving the way for future expeditions which could one day recover some of the £15 billion fortune.
In order to descend to the depths of the shipwreck, researchers will use an underwater vessel with acoustic positioning technologies and a remote operation vehicle with sensor tools.
The site is now a national “protected archaeological area” which will help to “preserve its scientific and archaeological value”.
Culture Minister Juan David Correa: “This government is doing something that is unprecedented … exploring the sinking of the galleon as the possibility of understanding history and culture.”
The array of artefacts recovered could provide insight into the social and political environment in Europe at the time, but they have also ignited a fierce legal battle.
Colombia argues that it discovered the San José but the US marine salvaging company Sea Search-Armada (SSA) disputes this, claiming that they found it in the early 1980s.
A £7.8 billion legal battle against the Colombian government has ensued in the Permanent Court of Arbitration – just over half the estimated value of the deep sea treasure.