Colombia To Explore 300-Year Treasure-Laden Shipwreck

Colombia's government has announced plans for a deep-water expedition to explore the legendary galleon San José, which sank in the 18th century in the country's northern Caribbean and is believed to contain treasure valued at billions of dollars, as reported by Astrid Suarez for the Associated Press (AP).

Although Colombia located the wreckage of the San José in 2015, legal and diplomatic disputes have since complicated matters, and the exact location remains a state secret. I Photo: Presidencia de la República de Colombia

The initial phase of scientific research into the deep waters surrounding the shipwreck aims to collect data to determine which pieces are feasible to extract. The wreckage lies 600 meters (almost 2,000 feet) deep in the sea.

Although Colombia located the galleon in 2015, legal and diplomatic disputes have since complicated matters, and the exact location remains a state secret.

The government plans to invest approximately $4.5 million this year in an archaeological exploration of the 62-gun, three-masted galleon, which sank in 1708 after being ambushed by an English squadron en route to Cartagena.

The ship has been the subject of legal battles in the US, Colombia, and Spain over ownership of the sunken treasure.

Colombia recently initiated arbitration litigation with Sea Search Armada, a group of US investors, for the economic rights to the San José.

The firm claims $10 billion, representing what they assert is 50% of the galleon's treasure discovered in 1982. The ship is believed to hold 11 million gold and silver coins, emeralds, and other precious cargo from Spanish-controlled colonies, potentially worth billions of dollars if recovered.

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