Skeleton coast
The ship may have been unable to withstand the currents in the volatile seas off the Namibian shore.
The area is also known as the Skeleton Coast and is associated with the skeletons of wrecked ships and past stories of sailors wandering through the barren landscape in search of food and water.
"I am sure there will be many more wrecks to be found here"
Webber Ndoro
Project manager
Working out whose ship this was is no easy task.
Gold coins that the Portuguese crown began producing in October 1525 mean it could not have been the vessel of the famous seafarer Bartholomew Dias, who disappeared on one of his travels around the point of Africa in the year 1500.
But there are other pointers, including swivel-guns known to have been used by Portuguese and Spanish seafarers, and the boat's shape, indicating that it was a Portuguese "nau".
There are also copper ingots carrying a clearly visible trident seal that can be traced back to the German banker and merchant family of Jakob Fugger - the main suppliers of primary materials to the Portuguese crown.
Gold and silver coins have been deposited in a bank vault.
Copper ingots carry a trident seal used by the Fugger family
Rare navigational instruments have been sent to Portugal for research, while pewter plates and jugs, pieces of ceramic, tin blocks and elephant tusks are temporarily housed in a warehouse on the premises of the mining company.
Some are being freed of their layer of sand and salt to allow for more detailed scrutiny over their make and origin.
"It represents a very interesting cargo - we have goods from Asia, we have goods from Europe, we have goods from Africa," said Mr Ndoro.
"We always think that globalisation started yesterday but in actual fact here we are with something we can date to around 1500."