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Home » Global Trade News » Colombia Embarks On Historic Quest To Uncover $20 Billion In Treasures
Last updated on February 29, 2024 by Ben Thompson

Colombia Embarks On Historic Quest To Uncover $20 Billion In Treasures

Colombia is embarking on an ambitious underwater journey to explore the San José, a Spanish galleon shipwrecked over 300 years ago. Discovered in 2015, the San José is believed to contain up to $20 billion in treasure, including gold, silver, and emeralds, lost in the Caribbean depths. This exploration, set to commence in the spring, aims to uncover the secrets of what is often referred to as the “holy grail of shipwrecks.”

Sunk in 1708 during a battle with an English fleet, the galleon was carrying a vast fortune from the Americas to Spain, including precious metals and jewels in its cargo. The Colombian government, investing $4.5 million in the project for this year, is focusing on archaeological research to document the wreck using advanced underwater robotics, navy ships, and cameras.

The wreck, lying at a depth of 600 meters, has been the center of legal and diplomatic controversies involving Colombia, Spain, and a group of American investors, Sea Search Armada, who claim a large portion of the treasure. Despite these disputes, Colombia is proceeding with the expedition for heritage purposes, emphasizing the historical value of the findings over monetary gain.

The initiative seeks to provide insights into the lives of the 600 individuals aboard the San José before its sinking. According to Colombia’s minister of culture, Juan David Correa, the true treasure lies in uncovering the ship’s historical narratives, highlighting the expedition’s focus on enriching our understanding of the past.

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