Almost $23m-worth of gold has been retrieved by divers from the Polar Mist, a sunken ship which has been found near Argentina’s south-eastern coast.

The ship, with a 9.4t cargo of gold and silver, sunk at an 80m depth near the Patagonian coast off Argentina due to bad weather in January this year.

Subsequently a search was conducted for the cargo and on 23 June the vessel was found by the C-Sailor search ship, which confirmed that the cargo was still onboard.

C-Sailor’s divers retrieved the first nine baskets of cargo in July.