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A GLASGOW-built steam ship laden with 20 tons of silver and sunk by a German torpedo in 1917 has been found beneath the North Atlantic Ocean off the coast of Ireland.

The Mantola, which was carrying silver worth £11.4m in today’s money from London to Calcutta during the First World War, was discovered by US marine exploration company Odyssey.

Thanks to a deal with the UK Department for Transport, the company is expected to keep up to 80 per cent of the worth of the cargo.

Marine archeologist Neil Cunningham Dobson from St Andrews was on board an Odyssey craft when the Mantola was identified via a remote tethered underwater explorer. 

"We were able to get a clear view. I saw the word Glasgow then the word Mantola. Then we knew for sure," he said. Read more.