Johnny Depp in final negotiations for Alice in Wonderland 2

While 'The Lone Ranger' is making headlines in the US for drawing some terrible reviews, matched by poor box office receipts it seems that Disney still have faith in the Johnny Depp's ability to draw crowds.

According to Deadline.com Depp is in final negotiations to reprise his role as the Mad Hatter in a sequel to Tim Burton's 'Alice In Wonderland'.

The project which is currently being called 'Into The Looking Glass.'

[Lone Ranger could lose Disney $150m]

The film is being directed by James Bobin, better known as the man behind the recent Muppets reboot movie, rather than Burton who's first movie which took over $1billion worldwide at the box office.

The sequel's producers will be the same as the first movie's: Joe Roth, Suzanne Todd and Jennifer Todd.

[Depp: "I'm socially inept at parties"]

The news comes in the same week that it was revealed that in March Depp's company Infinitum Nihil signed a new 'first look' deal at Disney to develop film projects he can produce at the studio.

He's currently also set to appear in the fifth 'Pirates of the Caribbean' movie and musical 'Into the Woods' for the studio, and is also currently in talks for its crime caper 'Mordecai.'