Lloyd's of London has plans to search the Swissair crash site off Nova Scotia for $300-million in diamonds and other jewels that were aboard the ill-fated plane.
CBC Television reported last night that Lloyd's has staked a claim to the crash site through a Canadian insurance company and has applied for a treasure-trove licence from the Nova Scotia government.
"This is tasteless," said Bill Estabrooks, a member of the Nova Scotia Legislature who represents communities near the crash site.
Mr. Estabrooks wants the province to reject any treasure-trove application.
"I appreciate that this is a fair chunk of change under the water, but I have reservations about the plan because of the sacredness of the site," he said.
Swissair Flight 111 crashed into the ocean off Peggys Cove on Sept. 2, 1998, killing all 229 passengers and crew on board. Most of the wreckage has been recovered and investigators are still trying to piece together what caused the crash.
The plane's cargo list indicates that two kilograms of diamonds and five kilograms of other jewellery were aboard when it went down. The valuables were never found, even when a giant vacuum ship swept the site.
The diamonds were in a stainless-steel tube, which may have disintegrated on impact or been driven deep into the seabed.
The insurance company plans to use a mini-submarine to search.
A Lloyd's spokesperson said the company hopes to begin the search this summer.