1 Updates

61 tonnes of silver salvaged from sunk British vessel

Jul 23 2013, 4:12am CDT | by IANS

Miami, July 23 (IANS/EFE) US treasure-hunter Odyssey Marine Exploration, Inc. announced Monday that it recovered more than 61 tonnes of silver from a British cargo ship that sank in 1941 off the coast of Ireland.

Miami, July 23 (IANS/EFE) US treasure-hunter Odyssey Marine Exploration, Inc. announced Monday that it recovered more than 61 tonnes of silver from a British cargo ship that sank in 1941 off the...

Filed under: news

Full Story below YouTube Videos

 
 

 

38 weeks ago

61 tonnes of silver salvaged from sunk British vessel

Jul 23 2013, 4:12am CDT | by IANS

Miami, July 23 (IANS/EFE) US treasure-hunter Odyssey Marine Exploration, Inc. announced Monday that it recovered more than 61 tonnes of silver from a British cargo ship that sank in 1941 off the coast of Ireland.

Miami, July 23 (IANS/EFE) US treasure-hunter Odyssey Marine Exploration, Inc. announced Monday that it recovered more than 61 tonnes of silver from a British cargo ship that sank in 1941 off the coast of Ireland.

The 1,574 silver ingots were removed from the SS Garsoppa, a vessel measuring 125 meters long that was torpedoed by a German submarine in February 1941, Odyssey said in a press release.

The haul "sets a new record for the deepest and largest precious metal recovery from a shipwreck", the company said, adding that the silver is being warehoused at a secure facility in Britain.

In all, since Odyssey began recovery work in 2012, the firm has removed 2,792 silver ingots from the SS Garsoppa.

Under the terms of the contract Odyssey signed with Britain's Department of Transport, the Florida-based company will retain 80 percent of the value of the recovered shipment.

In 2010, the British government reached an agreement with Odyssey for the firm to have the exclusive authorization to carry our recovery work on the Garsoppa.

"This was an extremely complex recovery which was complicated by the sheer size and structure of the SS Garsoppa as well as its depth nearly three miles below the surface of the North Atlantic," Odyssey CEO Greg Stemm said.

This is the first large project Odyssey has undertaken after its lost a court case to retain possession of the treasure it extracted from the Spanish ship Nuestra Señora de las Mercedes, valued at $500 million. The company was forced to return the treasure to the Spanish government in February 2012.

--IANS/EFE

rd

IANS

Source: IANS

 

Don't miss ...

 

blog comments powered by Disqus

Latest stories

U.S. Ranks 94th Of 100 Tax Systems; What Slovakia Could Teach IRS
Is our tax system competitive? Many global companies say no. Apple CEO Tim Cook lambasted the U.S. tax system in testimony before the Senate Permanent Investigation Subcommittee. Its report on Apple suggested tax...
 
 
Sherry Turkle's Solution To The Downside Of Screen Relations: Conversation
If Neil deGrasse Tyson from Cosmos has become the  bard of deep time, then Sherry Turkle is the bard of the present moment. Her stories, most recently Alone Together, tell us what our emerging technologies are doing to...
 
 
Using Apple's iPhone To Explain The Difference Between Invention And Innovation
Horace Dediu is trying to convince us all to accept a new word of his creation, innoveracy, to aid in explaining new products like Apple's iPhone. Truly ground breaking new products, ones that are different from novelty...
 
 
Analysts Think iPad Sales Have Peaked
Analysts Think iPad Sales Have Peaked
Along with a slight increase in iPhone sales, analysts say 2014 will bring a decline for iPads
 
 
 

Latest from the Network

U.S. Ranks 94th Of 100 Tax Systems; What Slovakia Could Teach IRS
Is our tax system competitive? Many global companies say no. Apple CEO Tim Cook lambasted the U.S. tax system in testimony before the Senate Permanent Investigation Subcommittee. Its report on Apple suggested tax...
Read more on Apple Balla
 
Why There Are So Many Terrible Managers In Business Today And What To Do About It
Throughout my 18-year corporate career, I had scores of managers who were, sadly, anything but inspiring.  The majority were clueless as to how to motivate, lead or develop their staff, or help employees utilize their...
Read more on Business Balla
 
Five Red Flags That Scream "Don't Take This Job!"
You can find tons of advice about how to get a job interview and how to snag a job. Most of it comes from the “Do whatever you have to do to get hired!” school of thought. The job market isn’t a job-seeker’s paradise,...
Read more on Business Balla
 
Penguins Playoff Tickets Down 25% After Blue Jackets Take Home Ice Advantage
With their win last night against the Penguins, the Columbus Blue Jackets have won their first game in the NHL playoffs and brought the first NHL playoff win to the Buckeye State.  Despite that historic achievement,...
Read more on Business Balla
 
Community Colleges Are The New Business Incubators
The rumor is community colleges are fallback schools because of price or easy, last-minute admissions. But that isn’t exactly the case anymore. Community colleges are now in the business of providing entrepreneurial...
Read more on Business Balla
 
Life Insurance and the 831(b) Captive Insurance Company - Wait For The Test Case Before Signing Up
There is an old saying about life insurance: “Life insurance isn’t bought, it is sold.” The public doesn’t exactly clamor to buy life insurance, and if you don’t believe me then just try to find a life insurance store...
Read more on Business Balla
 
Cesar Chavez Flick Lacks Nuance, Economic Literacy
The new biopic Cesar Chavez film is an emotional tale that breathes new life into the story of the important Latino labor organizer who died in 1993. Yet the film has multiple inaccuracies and doesn’t give justice to...
Read more on Business Balla
 
Why Jose Mourinho Needs To Worry About His Head When Chelsea Plays Atletico Madrid In UEFA Champions League
There are so many sidebars to the UEFA Champions semi-final between Atletico Madrid and Chelsea that is easy to forget that a fantastic encounter is in prospect forget. The Managers While Jose Mourinho needs little or...
Read more on Business Balla
 
Sherry Turkle's Solution To The Downside Of Screen Relations: Conversation
If Neil deGrasse Tyson from Cosmos has become the  bard of deep time, then Sherry Turkle is the bard of the present moment. Her stories, most recently Alone Together, tell us what our emerging technologies are doing to...
Read more on Business Balla
 
 
Auto Balla Sexy Balla Sport Balla TV Balla Politics Balla Movie Balla Apple Balla Business Balla Ad Balla Celebrity Balla