Great War wreck found

From Sydney Morning Herald.com: Great War wreck found
A BRITISH ship sunk in World War I with about 200,000 ounces of silver, worth $US19 million ($19.5 million) at today's prices, has been found in the North Atlantic, a treasure-hunting company says.

Odyssey Marine Exploration said it found the wreckage of the SS Mantola, which sank on February 9, 1917, after being torpedoed by a German submarine, and would begin recovery operations next year.

The Florida company said it discovered the shipwreck about 2500 metres beneath the surface and just 160 kilometres from the SS Gairsoppa, believed to be the most valuable shipwreck ever, with about $US210 million in silver. The firm said it had an agreement with the British government allowing it to keep 80 per cent of the value of anything recovered from the wrecks. It said the British Ministry of War Transport paid an insurance claim in 1917 of £110,000 for silver that was on board the Mantola when it sank.

Advertisement: Story continues below UNESCO estimates there are about 3 million shipwrecks worldwide, with billions of dollars in sunken treasure and priceless knowledge that can be recovered from the depths of the ocean, including copper, silver, gold and zinc deposits still to be discovered.