Chilean miners, who were trapped in a collapsed mine in San Jose, Chile last year, and their rescuers pose for a group photo in front of Cinderella's Castle while serving as Grand Marshals for the "Celebrate a Dream Come True" Parade at Walt Disney World's Magic Kingdom theme park in Lake Buena Vista, Florida, January 31, 2011. [Photo/Agencies]

LOS ANGELES - Thirty-three Chilean miners who had been trapped underground for 69 days last year have decided to take their story to the big screen.

Representatives of the miners announced Sunday that their movie rights were sold to Oscar-nominated producer Mike Medavoy and the production of a film recounting the events surrounding the miraculous rescue is set to begin next year.

Medavoy, who won nomination at the 83rd Oscars for "Black Swan, " will produce the film through his recently formed Half Circle production company in association with Edward McGurn, his vice-president at Phoenix Pictures.

"Like millions of people around the world, I was completely engrossed watching the rescue at Copiapo," said Medavoy, adding "This is a story about the triumph of the human spirit and a testament to the courage and perseverance of the Chilean people. I can't think of a better story than this one to bring to the screen."

Miner Juan Andres Illanes said: "One year after the collapse of the mine, we consider this to be a great step towards the realization of a film based on our experience in the mine. This is the only official and authorized film about what we lived in the San Jose mine. Much of our story has never been told."

Two Chilean entrepreneurs Carlos Eugenio Lavin, Medavoy's childhood friend, and his long-time associate Leopoldo Enriquez will serve as executive producers. Born in Shanghai, China in 1941, Medavoy has lived in Chile for 10 years.

Jose Rivera, whose screenplay for "Motorcycle Diaries" had been nominated for Academy Award, will pen the script.

Medavoy's most recent project was "Black Swan," a Darren Aronofsky film which garnered a number of awards including the Academy Award and Golden Globe for Best Actress for Natalie Portman. His other film credits include Martin Scorsese's "Shutter Island," a psychological thriller which featured Leonardo DiCaprio in the title role.

Production of the film will reportedly start in 2012.