Colombia's 'Holy Grail': $2 billion underwater treasure stirs international dispute

In 2015, Colombian authorities were tipped off that the Spanish galleon "San Jose" remains might be lying off their coast. The government enlisted the help of divers from the Woods Hole Oceanographic Institute to survey the ocean floor. They successfully located the ship about 0.6 miles below the surface.

The discovery has stirred excitement within the government and Colombian citizens, as the vessel is believed to hold 220 US tons of gold, silver, and emeralds. The estimated value of this treasure is around two billion dollars.

Authorities in Bogota have declared plans to recover the galleon by 2026 fully. This year aligns with the end of President Gustavo Petro's term. - "This is one of the administration's top priorities. The president has mandated us to expedite the process," explained the Minister of Culture, Juan David Correa.

The government is seeking an appropriate company capable of fully recovering "San Jose". Interestingly, the term 'wreck' is not applicable here, as 2022 photographs of the ship suggest it to be in remarkably good condition.

The ship is a hot topic across Colombia, with many intrigued by the ship and, more specifically, its onboard treasure. With an estimated value of 2 billion dollars, the interest is hardly surprising.

While Spanish authorities assert the ship as their property, Colombian officials and representatives of Bolivia's indigenous Cara Cara population counter this. They argue that, at the time of the ship's disappearance, the Spanish forced them to mine precious metals from the wreck illegally. Colombia insists the ship should belong to them.

Lastly, American interests come into play. Representatives of Glocca Morra argue that they provided Colombian authorities with the ship's coordinates back in 1981. They claim that the current government promised to share half the value of any discovered treasure with them.