Combing old shipwrecks.

COMBING OLD SHIPWRECKS. Admiralty Corp. of Atlanta GA has exclusive rights to recover gold, silver and artifacts from ships that sank more than 60 miles from Jamaica in the shallow Pedro Banks, an area so dangerous the Spaniards dubbed it La Vibora ("The Viper"), reports Cox News Service (May 26, 2004):

The Jamaican government will get half of any precious metals Admiralty's divers recover, minus the company's expenses, plus all artifacts, which the government plans to display in a maritime museum. While many Jamaicans view the government's deal with Admiralty as a winning proposition for their country, some have voiced their opposition, saying that the project amounts to sacrificing Jamaica's heritage for gold;

Thousands of merchant ships sailed the Caribbean Sea from the 1500s to the 1800s, when European empires were expanding their frontiers by establishing far-flung colonies. The ships carried huge amounts of precious metals, jewels, sugar, rum and slaves as part of the triangular trans-Atlantic route from Europe to Africa and the Americas. In the treacherous Pedro Banks, many fell victim to foul weather, pirates or the 100-mile-long reefs off Jamaica's southwest coast.

"It's estimated there are about 300 shipwrecks on the Pedro Banks, and maybe 10% are treasure ships," said Clarence P. Lott III, a V.P. at Admiralty. "It's considered one of the richest areas in the world for sunken ships." After investing US$14 million over 15 years, Admiralty executives said they have found three shipwrecks in the Pedro Banks. They believe the ships are Spanish galleons--Nuestra Senora de la Concepcion, Nuestra Senora del Carmen and the Santa Cruz--part of a fleet that got lost sailing from Veracruz, Mexico, to Havana in 1691. In 1999, the Jamaican government granted Admiralty an exclusive license to search a 2,000-square-mile area of the sea near Port Royal. The company is concentrating in a 10-square-mile area where most of the ships went down.