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Elvis Costello, Marcus Mumford and Jim James working on lost Bob Dylan lyrics album

'Lost On The River: The New Basement Tapes' is being produced by T Bone Burnett

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Elvis Costello, Marcus Mumford of Mumford & Sons and Jim James of My Morning Jacket are working with producer T Bone Burnett as well as Rhiannon Giddens of Carolina Chocolate Drops and Taylor Goldsmith of Dawes on an album based on long-lost Bob Dylan lyrics.

The artists are creating music for two dozen unfinished Dylan songs in Los Angeles' Capitol Studios. 'Lost On The River: The New Basement Tapes' is set for release this autumn, alongside a documentary called Lost Songs: The Basement Tapes Continued, directed by Sam Jones. The lyrics come from Dylan's 1967 'Basement Tapes' sessions.

Speaking about the new sessions, Burnett has commented: "Great music is best created when a community of artists gets together for the common good. There is a deep well of generosity and support in the room at all times, and that reflects the tremendous generosity shown by Bob in sharing these lyrics with us."

Filmmaker Jones added: "The discovery of these previously unknown Bob Dylan songs that were thought lost since 1967 is the stuff of Hollywood fiction and a find of truly historical proportions. It is a unique opportunity to film T Bone and these great artists as they collaborate with a young Bob Dylan, and each other, to create new songs and recordings. These days and nights in the studio have been nothing less than magical."

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