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According to Daily Variety, the Oscar winner will direct 127 Hours based on mountaineer Aron Ralston's ordeal in Utah's Blue John Canyon in 2003.
Ralston used a blunt knife and pliers to amputate his right forearm after it was pinned between a boulder and the canyon wall for nearly five days, reports The Mirror.
The mountaineer documented his experience in a book entitled Between a Rock and a Hard Place. He has also appeared on US talk shows and is now a corporate speaker.
The production of the film is due to begin in 2010 and is expected to release late next year.
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