The galleon, San Jose, went down 300 years ago as it was being chased by British war ships off the coast of Colombia, according to MSN News.
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The legendary treasure ship sank in 1708 carrying gold and silver estimated to be worth between $4 billion and $17 billion, reported CNN. But Sea Search Managing Director Jack Harbeston insists it won in Colombian courts that a new law passed by the Colombian Parliament that gave Sea Search only a 5 percent finder’s fee which was further subject to a 45 percent tax as unconstitutional.
Shortly afterward, however, the government cast doubts on Sea Search Armada’s claim, saying an independent team of investigators couldn’t find evidence of a shipwreck at the coordinates provided by the company.
General location of where the San Jose wreckage was found. The firm and the Colombia government agreed to share the contents of the boat when ultimately discovered – a deal Colombia later backtracked on.
Colombia’s Supreme Court has ordered recovery of the treasure before the global dispute can be settled.
The ship was located on November 27 by the Colombian Institute of Anthropology and History with the assistance of the navy and global scientists.
“Without room for any doubt, we have found, 307 years after it sank, the San Jose galleon”, Colombian President Juan Manuel Santos announced at a press conference on Saturday.
“It is a discovery of worldwide importance, it constitutes one of the greatest discoveries and identifications of our submarine heritage, if not the very greatest, some say, in the history of humanity”, the president said.
The remains of a Spanish ship thought to have copious amounts of treasure onboard have been discovered off Colombia’s Caribbean coast, according to President Juan Manuel Santos.
On June 8, 1708, the galleon ship San Jose was trying to outrun a fleet of British warships.
No humans have yet to visit the wreckage site, however, the government says autonomous underwater vehicles have brought back photos of dolphin-stamped bronze cannons that are in good condition.
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The site has not yet been tapped, but the government said excavation is likely to take several years – the discovery is entirely based on scans of the site.
