Ever since Guillermo Del Toro pulled out of directing The Hobbit, we’ve been waiting for him to make an announcement about his next directing gig. At Comic-Con last weekend, he confirmed he would write and produce a remake of The Haunted Mansion for Disney. Now, at long last, Deadline has confirmed that Guillermo Del Toro will direct an adaptation of HP Lovecraft’s horror novel, At the Mountains of Madness, with James Cameron(!) on-board as producer.

Deadline describe the At the Mountains of Madness as “a big ticket item, shot in 3D, where Cameron’s expertise can really help. Cameron has said he won’t put his name on many future movies outside of the 3D reboot of Fantastic Voyage at Fox, but I’ve heard he’s making an exception for del Toro.”

HP Lovecraft’s At the Mountains of Madness is a horror novella, originally serialised in 1936 and included within several issues of Astounding Stories magazine. The plot is as follows:

A 1930s geologic expedition ventures into the unknown wastes of Antarctica. There part of the expedition suffers a horrendous fate. The survivors set out to discover what happened and find a vast city buried in the ice which pre-dates mankind. As they explore the fantastical ruins the scholars discover that the city’s terrifying builder’s may still be there.

Del Toro will be directing for a script written by Matthew Robbins, which they are both re-working at present. Universal own the rights, after acquiring them from DreamWorks following the success of the Hellboy films. At the Mountains of Madness will enter pre-production immediately, and is expected to shoot in 3D next summer.

At the Mountains of Madness is a film that Del Toro has been wanting to make since 2006, when he initially pitched the film to Warner Bros. Pictures, who subsequently turned him down due to the story not having a central love story of happy ending. However, after four year’s of turmoil, it seems Universal, along with Del Toro and James Cameron, will finally be bringing At the Mountains of Madness to cinemas. Let’s hope it’s been worth the wait.