$200 Million Shipwreck Discovered, Salvage Company To Retain 80% Of Profits

$200 million in silver has been discovered by a US salvage company. The discovery is expected to be the biggest precious metal haul ever collected.

The sunken ship British SS Gairsoppa was taken down by a German U-Boat during World War II when it was en route from India to Galway. The ship was carrying nearly 220 tons of silver buillion along with iron and tea.

The ship was discovered 3 miles below the surface of the Atlantic, approximately 300 miles off the coast of Ireland.

Odyssey Marine Exploration based out of Florida is handling the salvage mission and will receive 80% of all profits from silver collected at the site. Company head Greg Stemm told the Telegraph:

“We were fortunate to find the shipwreck sitting upright, with the holds open and easily accessible,” while adding “This should enable to us to unload cargo through the hatches, as would happen with a ship alongside a cargo terminal.”

After a single torpedo sunk the ship in 1940 there were 32 survivors out of 85 crewman, unfortunately only one person survived after 13 days at sea, he died in 1992.

Here’s video footage taken of the wreck.