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Archaeologists Race to Save Treasure

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Archaeologists are racing against the little time left to salvage a fortune in coins and items from a 500-year-old Portuguese shipwreck found recently off Namibia's rough southern coast.

Despite its importance, the project, in a restricted diamond mining area, is itself costing a fortune in sea-walling that cannot be sustained after October 10.

"The vast amounts of gold coins would possibly make this discovery the largest one in Africa outside Egypt," said Francisco Alves, a Lisbon-based maritime archaeologist. "The cultural uniqueness of this find is priceless."

The 16th-century "Portuguese trade vessel was found by chance this April as mine workers created an artificial sand wall with bulldozers to push back the sea for diamond dredging," Namibian archaeologist Dieter Noli told reporters invited to view the site.

"One of them noticed an unusual wooden structure and round stones, which turned out to be cannon balls," he said.

The abundance of objects unearthed where the ship ran aground along Namibia's notorious Skeleton coast, where hundreds of vessels were wrecked over the centuries, has amazed even hardened experts.

"Over 2,300 gold coins weighing some 21 kilograms (46 pounds) and 1.5 kilograms of silver coins were found -- worth over 100 million dollars," Alves said, adding that the ship's contents suggest it was bound for India or somewhere in Asia.

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