According to The Hollywood Reporter, Watts is in negotiations to star in My Name Is Jody Williams, a biopic about the anti-land-mine activist who won the Nobel Peace Prize in 1997. Williams, a Vermont-born schoolteacher and aid worker, shared the Nobel with the group she worked for, the International Campaign to Ban Land Mines, whose efforts paid off in 1997 with the Ottawa Treaty, which has been signed by more than 150 countries pledging not to make or use anti-personnel land mines.
Williams is apparently a feisty character, famous for calling Pres. Bill Clinton a "weenie" for not signing the treaty (and surely not the only time that word has been used in conjunction with Clinton). What's more, Princess Diana was a high-profile supporter of the Ottawa Treaty (some believe her death was the final urge the British government needed to sign it), which means there's a chance she'll be a character in the movie. Yay!
The film was written by Audrey Wells, who will also direct. Wells' screenplay credits have tended toward the silly (Disney's The Kid, Shall We Dance), but her two directorial efforts, Under the Tuscan Sun and Guinevere, were a little more serious and dealt with strong female protagonists. Still, My Name Is Jody Williams sounds like a different animal altogether, so it will be interesting to see how it turns out.
Naomi Watts already has The International finished and is appearing in King Lear next, which is supposed to start shooting in early 2009. Jody Williams will presumably come after that.