Colombian President Orders Recovery of $20 Billion Shipwreck Treasure Transcript

Tonight, the holy grail of shipwrecks, potentially one step closer to resurfacing for the first time in 300 years. Bloomberg reporting Colombian president Gustavo Petro has ordered the recovery of the $20 billion treasure, telling the country’s Minister of Culture to, “Pick up the pace and pull the wreck off the ocean floor before the end of his term in 2026.” But questions tonight about who can claim ownership of the treasure on board the San Jose, a Spanish galleon which sank off the coast of Cartagena in 1708 during a battle with the British Navy. Believed to be on board, priceless artifacts, gold and silver, gems and jewelry, collected by South American colonies to be shipped to Spain’s king.

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The wreck’s exact location, a closely guarded secret. The Columbia Navy says it found the storage ship in 2015.

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But American Company, Sea Search Armada says it discovered the wreck in the 1980s making a deal with Columbia to get half of the value in exchange for the coordinates. They’re now suing Columbia, seeking half the value of the fortune. Columbia rejecting the company’s ownership rights earlier this year.

I get excited about what it means historically.

Professor Charles Beeker, who says the wreck lies within Columbian waters was an advisor to a Columbian delegation in 2014.

Columbia should split nothing. It’s 100% something they have. Let’s appease everybody by making sure that these objects can be, again, loaned to Spain, long-term loan, Central America in Columbia for exhibits. These resources should be protected for public benefit, not for private gain.

Bloomberg reporting President Petro is pushing officials to set up a public/private partnership or do a deal with a private firm to recover the riches.

700 feet of water today is not that difficult. Divers cannot go there, but remote operated vehicles can go there. But it’s still costly. To do underwater work is a costly endeavor. Draw the line that you’re not using artifacts to pay for it.

The race to the ocean floor coming at a price. Valerie Castro, NBC News.

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