The media reports that Cameron is producing the $30 million movie "Sanctum," which is filming at Australia's Gold Coast for a 2012 release. From All Movie Guide, here is the synopsis of the movie:
Academy Award-winning Titanic director James Cameron serves as co-writer and co-producer of director Gary Johnstone's high-definition 3-D feature concerning an ambitious father/son deep-sea expedition that turns life-threatening when the crew descends to uncharted depths to explore the underwater caves that stand as one of the last frontiers of earthbound exploration. Stripped to their most primitive instincts and forced to resort to desperate, unproven measures as a means of survival, the frightened father and son are forced to come to terms with both themselves and their surroundings as they struggle to overcome one of the most punishing and unforgiving environments on the planet. Filmed with the 3-D Fusion camera system developed by producer Cameron and partner Vince Pace, Sanctum is set to be simultaneously released on both traditional screens and in theaters equipped for digital 3-D exhibition as well.
Filming is currently underway and is expected to continue through March. The story is based on a true life experience of producer Andrew Wight, who was trapped in a cave following an entrance collapse.
http://moviemazz.blogspot.com/2009/11/exclusive-on-new-james-cameron-project.html
