Today : Wednesday - Sep 17, 2014, 05:03pm (GMT+5.5)
All News  
Top News
National News
International News
Business News
Sports News
   » Cricket
   » Football
Entertainment News
Sci - Tech
Politics News
Health & Fitness
Gulf News
::| Latest News
News in Pictures

Seemingly unfazed at being ousted from the Asian Athletics Association, scam-tainted Suresh Kalmadi on Monday said losing the presidential re-election bid to Qatar’s Dahlan Jumaan Al-Hamad has actually given him a chance to work at the “grassroots” level.
“I have no issues today and I congratulate Mr Al-Hamad for being elected as President. I am rather relieved that I will be able to work at the grassroots level in athletics,” Mr. Kalmadi said after losing the vote during the ongoing AAA Congress in Pune.

International News

British shipwreck containing $3 bn treasure found

Friday - Feb 03, 2012, 11:50am (GMT+5.5)
[+] Text [-]

London -  A treasure hunter claims to have located the wreck of a bombed British merchant ship containing platinum bars worth $3 billion, media reports said.

If the theory is right, the ship, which was torpedoed by the Germans in World War II, could be one of the richest sunken treasure troves ever discovered.

Greg Brooks, of Sub Sea Research in Gorham, Maine, this week announced the wreck, sitting in 700 feet of water 50 miles off Cape Cod, Massachusetts, is that of the S.S. Port Nicholson, Daily Mail reported Thursday.

He said he and his crew identified the ship, which was sunk in 1942, via the hull number using an underwater camera, and he hopes to begin raising the treasure later this month with the help of a remotely operated underwater vessel.

However, a lawyer for the British government has expressed doubt the vessel was carrying platinum. But if precious metals are on board, who owns the hoard could become a matter of international dispute, the newspaper said.

Brooks said the Port Nicholson was bound for New York with 71 tonnes of platinum - valued at the time at around $53 million - when it was sunk in an attack that left six people dead.

The platinum was a payment from the Soviet Union to the US for war supplies, Brooks said, adding that the vessel was also carrying gold bullion and diamonds.

Treasure hunter Brooks claims to have located the wreck in 2008 using shipboard sonar but held off announcing the find while he and his business partners obtained salvage rights from a federal judge.

Salvage rights are not the same as ownership rights, which are still unsettled.

The Institute of Russian History of the Russian Academy of Sciences said they were not aware of the hoard but confirmed the Soviet government often used precious metals and minerals as payment during WWII, reports RIA Novosti.

The US government has not weighed in on the court case yet, and Brooks said he doubts that will happen, since the Soviets eventually reimbursed Washington for the lost payment.


Rating (Votes: )   

blog comments powered by Disqus

Other Articles:
Rings removed from Chinese man's penis (3rd Feb, 2012)
Russia, NATO to hold missile defence drills (3rd Feb, 2012)
Foreign telecom firms want government to clarify stand (3rd Feb, 2012)
Heartbeats to keep pacemakers ticking (3rd Feb, 2012)
'India's jet deal setback to British industry' (3rd Feb, 2012)
Too much of sugar fuelling global obesity (3rd Feb, 2012)
Mona Lisa's 'twin sister' found 500 years later (3rd Feb, 2012)
Petroleum price hike hurting Pakistanis (3rd Feb, 2012)
A 17 Afghan militants captured (3rd Feb, 2012)
China's wetlands are poorly protected (3rd Feb, 2012)
China mulls disaster relief teams (3rd Feb, 2012)
Websites selling statins sketchy in details (3rd Feb, 2012)
Rapper seeks legal action against Romney over song use (2nd Feb, 2012)
Julia Gillard’s shoe redesigned to ensure she’s never left barefoot again (2nd Feb, 2012)
‘Black UK actors told to go to Hollywood to find leading roles’ (2nd Feb, 2012)
Full trailer of HBO’s ‘Game Change’ shows Sarah Palin in bad light (2nd Feb, 2012)
Obama establishes lead over 2012 GOP White House contestants in Ohio: Poll (2nd Feb, 2012)
Michelle Obama wins push-ups challenge on Ellen’s show (2nd Feb, 2012)
Pak military’s ‘kill and dump’ policy made political solution in Balochistan impossible: Editorial (2nd Feb, 2012)
Malaysian clients asked to avoid Indian astrologers (2nd Feb, 2012)
Romney attracts flak for "not concerned about the very poor" comment (2nd Feb, 2012)
Hindu trader kidnapped at gunpoint from Mastung in Balochistan (2nd Feb, 2012)
Suspect involved in smuggling of Gaddafi’s son claims to being abused and tortured in prison (2nd Feb, 2012)
Kashmir and the politics of fear and intimidation (2nd Feb, 2012)
Several Afghans gearing for Taliban rule after NATO troops’ withdrawal: Report (2nd Feb, 2012)

Contact Us | Advertise with Us | Privacy Policy | Disclaimer | Terms of Use