Very well Colombia!

[Vox veritas]

Very well Colombia!

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[old man]

That should make a lot of treasure hunters happy. Somehow I don't think that includes Academics or Spain.

 

[Au_Dreamers]

local passport agency closed till January

Operational paperwork will probably take MUCH longer....

Is the translation proper to English in that they will be bid for?

 

[Salvor6]

Colombia gets ALL of the artifacts and 50% of the gold & silver. Colombia pays nothing for the salvage costs. That doesn't sound like such a good deal for the salvors.

 

[whydahdiver]

my firewall blocks this, can someone please post the whole article?

Thanks!!

 

[old man]

my firewall blocks this, can someone please post the whole article?

Thanks!!

[h=1]Colombia expects to begin exploring their submerged galleons in 2014[/h] 21-12-2013 / 1:10 h EFE


Under the Colombian Caribbean waters there are about 1,300 sunken ships and galleons of the colonial era. Now with the "Submerged Heritage Act" is expected in 2014 underwater explorations are undertaken and can extract the hidden treasures.
A standard one is left with the regulations, a process that will be ready in January, which may open bidding to explore and then exploit what's under the sea, said in an interview with Efe Colombian Culture Minister Mariana Garcés .
"Colombia has approximately 1,300 subsidence. Of those, according to historians, between five and seven can be galleons economic interest," Garces said.
The controversial law provides that the company that wins the bid to extract the wealth of the galleons can keep up to 50% of the objects of trade exchange value considered repeated: gold and silver bullion, coins, precious stones not intervened by man and industrial cargoes.
Instead, all the parts that do not meet this criterion will be considered repeat Colombian heritage and, therefore, property of the nation.
The greatest treasure of the galleon seems to be the San Jose, a flagship of the Spanish Armada sunk by gunfire in 1708 by English pirates off the coast of Cartagena de Indias with great riches in its hold.
"Some say there are 6,000 million, others say there are 3,000 others who say that San Jose has been looted," said the minister, who also opened the possibility that the galleon is not in the place where believes.
And in 2007, the Supreme Court of Colombia ruled that U.S. treasure hunting company Sea Search Armada has rights to 50% of the treasure of San Jose if you are in the coordinates that the company claimed.
"We're hoping to finish that last instance of judicial decisions (on San Jose), we are confident that will be favorable to us, to establish the mechanism of exploration," said the minister about this process is still in the judged.
The "Submerged Heritage Act", passed this year, also includes the priority to remove the sunken treasure is the Colombian state, but the minister acknowledged that the country "has technological developments in the field."
The manager of the public company would do Dimar (General Maritime), which recognized that Garces has not yet started work on the development of a technology that permits it.
In foreign countries could claim rights over these treasures, as in the case of Spain with the galleon San Jose Garces said Colombia "does not share the theory of the flag or the origin of the burden" of Unesco, which does recognize these rights.
"We, we are clear in our territorial waters legislate us," Garces said, although the bids could be denounced by countries claiming ownership.
The Minister also referred to the rest of sunken ships, nearly 1,300 that have no economic interest but scientific and heritage.
"We would have underwater explorations for our history, not only with the only commercial mood. That's not our interest, not our priority," he said Garces.

 

[whydahdiver]

Thanks Old Man!

 

[Black Duck]

So what Columbia and any other country that dose this plan of not splitting everything is saying is they do not want the artifacts

Why would any one bring up something that they will not benefit from ? You can say what you want about wanting to do whats right but most will not and how can they at no benefit. It cost money to run an operation, doing a project this way is set for failure, the country will have no cultural benefit, any company that dose a deal like this is just not doing there investors/funders or heritage correct just my opinion

 

[Au_Dreamers]

Yeah I dunno I'm confused on the translation and not really sure what....

"the company that wins the bid to extract the wealth of the galleons can keep up to 50% of the objects of trade exchange value considered repeated: gold and silver bullion, coins, precious stones not intervened by man and industrial cargoes.
Instead, all the parts that do not meet this criterion will be considered repeat Colombian heritage and, therefore, property of the nation. "

means

On first read I think it means that Columbia will get all unique items and the salvor gets 50% of repeated items of gold and silver bullion, coins, precious stones not intervened by man and industrial cargoes.

It may be like the "3 coin rule" with the state of Florida with the 1715 fleet.

The State of FL may be awarded up to 3 items of similar uniqueness if their 20% qualifies them to. After that the salvor may receive all multiple items.

So this brings up many questions one of which does this imply a 1 coin rule?

Is the 50% an item per item or a valuation 50%? Would the salvor receive 2 $25,000 coins if Columbia receives 1 unique $100,000 coin?

 

[Black Duck]

Hi Au Dreamers

You have a point, I should look at this translation with help, if the Colombia government is saying they want all artifacts and will just split coins. metals in raw form, my point is why would anyone bother bringing up the cultural artifacts, the damage that would be done could not be undone it all has to come up at the same time

it should not be thrown to the side because the contractor has no reason to bring it up and this would be what any country that would do this would be inviting
It is a business and it takes professionals to do this correctly,

My point is there are some good professional companies out there trying to do this right, and when some inexperienced company dose a deal that just will not work it looks bad for all company's

 

[FISHEYE]

After you bring up the treasure the gun boats will show up and take it all.I wouldn't trust any Colombians no matter how good the deal sounds.

 

[Jolly Mon]

I ran into an interesting looking book, The Treasure of the San Jose by Carla Rahn Phillips. The book was published in 2007. I have not had a chance to read it in full, but it seems well written and informative. According to the author, both Spain and Columbia are claiming the wreck (Surprise, Surprise !! ) and are arguing the matter in court to this day (at least as of 2007). Anyway, apparently the location of the wreck is subject to some dissension and has perhaps not been located at all, the claims of Sea Search Armada notwithstanding. There seems to be some dispute about whether or not the wreck they have located is, in fact, San Jose.

I do not claim to have followed the case at all, but it seems Spain is SOL on this one and that the legal machinations are currently between Columbia and private salvors. Anyone interested can do a quick Google search and come up the pertinent details of the confusing case, but here is a copy and paste of a letter a representative of Sea Search Armada submitted to Gizmodo back in April of 2012 after US courts refused to hear the matter:

"We enjoyed your recent article on the San Jose, however, it
is important to note the recent decision by the federal court is being
appealed and SSA is expected to prevail. Nonetheless, such is not
necessary to prevail and proceed with the salvage, as a recent ruling
by the Colombian Supreme Court has upheld the 50/50 ruling. This
filing in the US Court was to get further help and support from the US
government and should fall into place as well. The San Jose is too big
not to come up and it will soon, 24-36 months. We are original
investors and participants in the corporate finance/venture capital
effort that birthed, evolved and perpetuated the project. The majority
interest was sold to Jack Harbeston in the late 80's. It's great to
see it coming alive and is a treasure trove for all time.
The current valuations could exceed $20B, including the original manifest of gold, silver, and 116 steel chests of gem quality emeralds representing a 20 year world supply. Additionally, worthy of note based on subsequent finds over the last three decades, it is now believed a missing shipment of 100M gold coins also reside on the San Jose, the "holy grail" of treasure salvage boats.
Obviously, the continuing escalation in the valuation of the treasure is based largely on precious metals & gems pricing moving ever higher with continuing increases in oil prices and world instability."