Displaying items by tag: treasure hunting

28th September 2011

Shipwreck Contains Largest Ever Silver Haul Found At Sea

A shipwreck off the southwest coast of Ireland has been found to contain the largest ever haul of precious metal at sea.

Some 200 tonnes of silver worth around €172m were discovered in the wreck of the British cargo ship SS Gairsoppa by a US exploration company, BBC News reports.

The UK merchant vessel was sunk by a German U-boat in 1941 as it was trying to reach shelter in Ireland.

Odyssey Marine, the firm responsible for the discovery, says it is now planning for the recovery of its cargo, with work expected to begin in spring next year.

"By finding this shipwreck and telling the story of its loss, we pay tribute to the brave merchant sailors who lost their lives," said the company's chief archaeologist Neil Dobson.

As per the terms of its contract with the UK Department of Transport, Odyssey Marine will get to keep 80% of the silver's value as profit.

The arrangement has been criticised for allegedly being more about "treasure hunting" than marine archaeology.

"Legitimate, professional archaeologists do not engage in the buying, selling, or valuing of artefacts," writes Mark Staniforth at The Conversation.

http://theconversation.edu.au/sunken-ship-yields-silver-booty-but-should-we-let-sleeping-wrecks-lie-3575

BBC News has more on the story HERE.

http://www.bbc.co.uk/news/uk-15061868

A shipwreck off the southwest coast of Ireland has been found to contain the largest ever haul of precious metal at sea.

Some 200 tonnes of silver worth around €172m were discovered in the wreck of the British cargo ship SS Gairsoppa by a US exploration company, BBC News reports.

The UK merchant vessel was sunk by a German U-boat in 1941 as it was trying to reach shelter in Ireland.

Odyssey Marine, the firm responsible for the discovery, says it is now planning for the recovery of its cargo, with work expected to begin in spring next year.

"By finding this shipwreck and telling the story of its loss, we pay tribute to the brave merchant sailors who lost their lives," said the company's chief archaeologist Neil Dobson.

As per the terms of its contract with the UK Department of Transport, Odyssey Marine will get to keep 80% of the silver's value as profit.

The arrangement has been criticised for allegedly being more about "treasure hunting" than marine archaeology.
"Legitimate, professional archaeologists do not engage in the buying, selling, or valuing of artefacts," writes Mark Staniforth at The Conversation.

BBC News has more on the story HERE.

Published in Coastal Notes

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About the Loughs Agency

The Loughs Agency is a governmental body established under the 1998 Agreement between the Government of the United Kingdom of Great Britain and Northern Ireland and the Government of Ireland. The Agency's goal is to provide sustainable social, economic, and environmental benefits by effectively conserving, managing, promoting, and developing the fisheries and marine resources of the Foyle and Carlingford areas.

The Agency's governing legislation confers several specific functions, including the promotion of development of Lough Foyle and Carlingford Lough for commercial and recreational purposes in respect of marine, fishery, and aquaculture matters. Moreover, the Agency is responsible for managing, conserving, protecting, improving, and developing the inland fisheries of the Foyle and Carlingford areas. Additionally, the Agency has the task of developing and licensing aquaculture, as well as the development of marine tourism.

The Loughs Agency reports to the North South Ministerial Council and its government Sponsor Departments, the Department of Agriculture, Environment and Rural Affairs (DAERA) in Northern Ireland, and the Department of the Environment, Climate, and Communications (DECC) in Ireland. The Departments fund the Agency on an equal basis.

The Loughs Agency's focus on sustainable development is expected to have a positive impact on the economy, environment, and local communities in the Foyle and Carlingford areas. The Agency's efforts to conserve and enhance the region's marine resources, including fisheries and aquaculture, are expected to benefit local communities, promote tourism, and contribute to economic growth.

In conclusion, the Loughs Agency plays a vital role in promoting the sustainable social, economic, and environmental development of the Foyle and Carlingford areas. Its work on marine conservation and development is crucial in ensuring the long-term viability of the region's natural resources and in promoting sustainable economic growth.