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Shipwreck of SS Gairsoppa reveals £150m silver haul

26 September 2011 Last updated at 16:33 BST

A shipwreck containing 200 tonnes of silver worth around £150m has been discovered in the Atlantic, the largest haul of precious metal ever found at sea.

The SS Gairsoppa, a UK cargo ship sunk by a German U-boat in 1941, was found by US exploration firm Odyssey Marine.

The firm will retain 80% of the cargo's value under the terms of a contract with the Department for Transport.

In a conference call the CEO of Odyssey Marine, Mark Gordon, gave details of the salvage operation.

Pictures and audio courtesy of Odyssey Marine Exploration.