'Pirates of the Caribbean 5' spoilers: 'Dead Men Tell No Tales' coming in July, 2017

(Credit: REUTERS / Stringer)Actor Johnny Depp wears a ring as he attends a promotional event of his new movie "Transcendence", on his first visit to China in Beijing March 31, 2014.

The filming of the much-anticipated 'Pirates of the Caribbean 5' movie, 'Dead Men Tell No Tales,' is reported to begin soon.

The popular Disney action-adventure franchise which stars Johnny Depp as Captain Jack Sparrow, is set to begin filming in Australia after having been granted a AUS $21.6 million budget allocation by the Australian Federal government, in agreement that the movie will be shot in its entirely in the land down under.

The budget allocation was due to fund another Disney project called '20,000 Leagues Under The Sea,' but was transferred to 'Pirates of the Caribbean 5' after director David Fincher dropped out on helming the 'Leagues' project.

"The government is pleased to agree to Disney's request to enable earlier funding to be re-purposed for the production of Pirates of the Caribbean 5. Any decision to film productions in Australia is a commercial matter for Disney," the Australian Federal Arts Minister George Brandis commented in a statement.

The production of the movie is expected to give approximately 3,000 jobs for the Australian workforce, and is deemed to be the biggest movie production to take place in the country.

The setting of the 'Pirates of the Caribbean 5' production that have allegedly been chosen are Queensland and the Gold Coast.

Another exciting detail added to the production of Pirates 5 is the possible return of actor, Orlando Bloom. Yahoo! reports that in a discussion panel at Oz Comic-con, Bloom expressed his excitement to return to the set of 'Pirates,' especially if it will give him another chance to work with Depp and Geoffrey Rush.

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