Colombia will try to recover objects from 1708 shipwreck believed to be worth billions

BOGOTA — The Colombian government said Thursday it will try to raise objects from the 1708 shipwreck of the galleon San Jose, which is believed to contain a cargo worth billions of dollars.

The 300-year-old wreck, often called the “holy grail of shipwrecks,” has been controversial, because it is both an archeological and economic treasure.

Culture Minister Juan David Correa said the first attempts will be made between April and May, depending on conditions in the Caribbean Sea. He pledged it would be a scientific expedition.

“This is an archeological wreck, not a treasure,” Correa said. “This is an opportunity for us to become a country at the forefront of underwater archeological research.”

The ship is believed to hold 11 million gold and silver coins, emeralds, and other precious jewels from Spanish-controlled colonies, which could be worth billions of dollars if recovered.

The San Jose sank in battle more than 300 years ago. It was located in 2015 but has been mired in legal disputes. In 2018, the Colombian government abandoned plans to excavate the wreck, amid disputes with a firm that claims salvage rights based on a 1980s agreement with Colombian government.

In 2018, the United Nations cultural agency UNESCO called on Colombia not to exploit the wreck. It sent a letter to Colombia expressing concern that recovering the treasure for sale rather than for its historical value “would cause the irretrievable loss of significant heritage.”

“Allowing the commercial exploitation of Colombia’s cultural heritage goes against the best scientific standards and international ethical principles as laid down especially in the UNESCO Underwater Cultural Heritage Convention,” the letter said.