SYDNEY (Hollywood Reporter) - The Jim Henson Company is to partner with Australian production outfit Omnilab Media to make “Power of the Dark Crystal,” a sequel to Henson’s 1982 fantasy hit “The Dark Crystal,” the companies confirmed Wednesday.

“Daybreakers” directors Peter and Michael Spierig will helm the film, which is to be made in stereoscopic 3D with a mix of live action and Henson puppetry, and is being billed as one of the most ambitious projects ever to be made in Australia.

“Power of the Dark Crystal” will be produced by the Australia-based production arm of Omnilab Media, Ambience Entertainment, while Omnilab-owned special effects house Illoura will work on the CGI elements of the film.

Set hundreds of years after the events of the first movie, when the world has once again fallen into darkness, “Power of the Dark Crystal” follows the adventures of a mysterious girl made of fire who, together with a Gelfling outcast, steals a shard of the legendary crystal in an attempt to reignite the dying sun that exists at the center of the planet.

The screenplay was written by Craig Pearce based on an original script by Annette Duffy and David Odell. Fantasy artist Brian Froud will reprise his role as conceptual designer of the film.