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Magadh Today - Beyond Headlines > Latest News > Global > The ‘holy grail of shipwrecks’ with treasure worth $20B to be taken out by Colombia
Global

The ‘holy grail of shipwrecks’ with treasure worth $20B to be taken out by Colombia

Gulshan Kumar
Last updated: 2023/11/07 at 3:21 PM
By Gulshan Kumar 2 years ago
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Cartagena, Colombia:In a daring and historic undertaking, Colombia has initiated a national mission to recover an opulent shipwreck believed to harbor a remarkable treasure trove containing 200 tons of gold, silver, and emeralds. This monumental endeavor is set to conclude prior to the conclusion of President Gustavo Petro’s term in 2026.

This legendary sunken vessel, a Spanish galleon, met its fate off the shores of Cartagena, Colombia, in the year 1708 during a fierce engagement with British naval forces. The cataclysmic event transpired as a result of a detonation in the ship’s powder magazines.

It is worth noting that the accumulated riches resting within the sunken shipwreck are estimated to be worth a staggering $20 billion in contemporary currency. This remarkable maritime discovery has come to be referred to as the ‘Holy Grail of Shipwrecks.’

In the year 2015, a team of skilled navy divers operating under the aegis of the Colombian government made the momentous find. The sunken ship, nestled at a depth of approximately 3100 feet beneath the ocean’s surface, was surveyed and documented by a dedicated team in 2022. Captivating images of the treasure-filled vessel were successfully captured during this operation.

Juan David Correa, Colombia’s Minister of Culture, has emphasized the urgency and significance of the ongoing national mission, remarking, “This ranks among the highest priorities for the Petro administration, and the President has articulated his resolve for swift progress,” in a statement to Bloomberg.

The historical context of the sunken ship’s demise is embedded in the broader canvas of the War of Spanish Succession, a conflict between Spain and Britain during the early 18th century. The ship, part of a convoy consisting of 14 merchant vessels and three formidable Spanish warships, encountered a formidable British squadron near the vicinity of Barú. This encounter ignited a fierce battle that culminated in the vessel’s eventual submersion.

However, a complex and contentious dispute has arisen over the rightful ownership of the ship’s treasure, involving Spain, Colombia, and the indigenous Qhara Qhara nation of Bolivia. The Qhara Qhara nation has asserted that their forebears were subjected to forced labor by the Spanish, who extracted the precious metals that now constitute the submerged treasure.

Additionally, an American company named Glocca Morra has entered the fray, claiming that they unearthed the treasure’s location in 1981 and subsequently disclosed the coordinates to the Colombian government. The company has alleged that a prior agreement guaranteed them half of the cargo’s overall value.

This extraordinary endeavor to salvage the fabled sunken treasure ship promises to be an enthralling chapter in the annals of maritime exploration, embodying a rich tapestry of history, rivalry, and submerged riches.

 

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