CARTAGENA, Colombia – Colombia has declared a “protected archaeological area” around the site where the San Jose galleon sank more than three centuries ago off the Caribbean coast. Laden with gold, silver, and emeralds believed to be worth billions of dollars, the ship has been designated to guarantee the protection of heritage through long-term preservation and the development of research, conservation, and valuation activities, announced the culture ministry.

The San Jose, dubbed the “holy grail” of shipwrecks, was owned by the Spanish crown when it was sunk by the British navy near Cartagena in 1708, with only a handful of its 600-strong crew surviving. The galleon was on its way back from the New World to the court of King Philip V of Spain, carrying chests of emeralds and some 200 tons of gold coins.

Before the discovery of the ship in 2015, it had long been sought by adventurers due to the estimated billions of dollars’ worth of bounty it held. Culture Minister Juan David Correa emphasized that the sunken treasure should not be viewed as a mere treasure but rather as an important archaeological find, endorsing the new area designation during an event marking the start of a scientific exploration of the wreck.

Plans to deploy an underwater robot to recover some of the bounty were announced by Correa in February. The ship and its contents have been subjects of contention, with Spain laying claim under a UN convention Colombia is not party to, while Indigenous Qhara Qhara Bolivians claimed the riches as stolen from them. Despite the disputes, the government of President Gustavo Petro has pushed for the excavation of the wreck for scientific and cultural purposes.

Notably, the exact location of the shipwreck remains undisclosed to safeguard the valuable archaeological find from unauthorized treasure hunters. Recent advancements in exploration revealed new images of the wreckage, showcasing gold ingots, coins, cannons from Seville, and even an intact Chinese dinner service aboard the San Jose. Additionally, two other shipwrecks, including a schooner dating back about two centuries, were discovered in the area alongside the galleon.

Present at the event, Spanish and Qhara Qhara delegations stood witness as Colombia underscored its commitment to pursuing the scientific and cultural importance of the wreck, amidst a legal battle with U.S.-based salvage company Sea Search Armada over rights to the sunken treasure. The case has been taken to the U.N.’s Permanent Court of Arbitration, with the company seeking $10 billion from Colombia.

Overall, Colombia’s efforts to safeguard, explore, and study the San Jose galleon reflect a deeper commitment to understanding and preserving the rich history and cultural heritage embedded in the centuries-old shipwreck, offering new insights into maritime history and archaeological discoveries.