A 500-year-old shipwreck has been found off the coast of southern Africa, laden with tons of copper ingots, elephant tusks, gold coins, and cannons to fend off pirates.

The wreck and its treasure were recently discovered by geologists prospecting for diamonds off the coast of Namibia.

"If you're mining on the coast, sooner or later you'll find a wreck," archaeologist Dieter Noli said in an interview Thursday.

Namdeb Diamond Corp., a joint venture of the government of Namibia and De Beers, first reported the April 1 find in a statement Wednesday and planned a news conference in the Namibian capital next week.

Judging from the notables depicted on the hoard of Spanish and Portuguese coins, and the type of cannons and navigational equipment,