Company recovers 48 tons of silver from shipwreck

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An American company has made what is being called the heaviest and deepest recovery of precious metals from a shipwreck.

The Tampa, Fla.-based Odyssey Marine Exploration announced Wednesday that it had recovered 48 tons of silver bullion from the SS Gairsoppa, a sunken British cargo ship in three miles of water off the coast of Ireland.

Between the Gairsoppa, torpedoed by a German U-boat during World War II, and the SS Mantola, sunk by a German submarine during World War I, Odyssey said in a press release that about 240 tons of silver could be recovered by the end of the operation.

The recovery is being made under a contract awarded by the U.K. government, which will keep 20 percent of the cargo's value, estimated to be in the tens of millions of dollars.

Click here for the full report by ABC News.