MercoPress. South Atlantic News Agency

Recovery of sunken vessel with gold in South Atlantic begins next week

Chilean flagged trawler “Polar Mist”

An offshore services support Norwegian vessel will begin next week working for the recovery of the Chilean flagged trawler “Polar Mist” loaded with containers containing gold and silver that was lost in the South Atlantic offshore Argentina.

The rescue operation was contracted by Lloyds insurance corporation in an operation that could involve two million US dollars according to the Argentine and Chilean press.

“Skandi Patagonia” has a helicopter landing-pad, experienced divers and strong engines which enable it to remain positioned in spite of strong winds or sea currents. She has been working since 2002 for the French oil company Total which has several offshore operations in the South Atlantic.

The Chilean flagged trawler converted into a small cargo vessel “Polar Mist” went down in the middle of a storm on January 18th on the east access to the Magellan strait with a load of gold and silver from Argentine mines, en route to Chile, totalling 9.5 tons and valued at 18 million US dollars.

Of the precious cargo, 6.9 tons belong to Cerro Vanguardia, an associate of South Africa’s Anglo Gold and the local provincial company Fomicruz, and the rest to the Triton Argentina, a subsidiary from Pan American Silver.

According to a spokesperson for DOF management AS owners of the vessel it could be easier to re-float the “Polar Mist” than to recover the eight containers apparently retained in the hold.

It is believed the Chilean trawler is sunk in 75 meters deep waters.

The loss of the Polar mist trawler happened is mysterious circumstances: the crew alleges to have abandoned the vessel in the middle of a major storm fearing for their lives but somehow the following day another Chilean flagged vessel was caught by the Argentine Coast Guard pulling her towards Chile.

Since it all happened in Argentine waters the tug was ordered to head for Rio Gallegos but somehow in the middle of the night “Polar Mist”, begun making water and went down, according to the frustrated rescuers.