Here's some news about Mummy 3 from Mania.com (formerly Cinescape):
Rob Cohen to direct "Mummy 3"?
By: Karl Schneider, News Editor
Source: Hollywood Reporter
Date: Wednesday, January 10, 2007
According to the Hollywood Reporter, Universal Pictures is in negotiations with Rob Cohen to direct the upcoming film Mummy 3.
The previous two installments of the action-adventure franchise starred Brendan Fraser and Rachel Weisz as early 20th century adventurers who end up in the path of a reborn Egyptian mummy played by Arnold Vosloo. Details regarding the script for the film are being kept under wraps, but both Fraser and Weisz are expected to reprise their rolls though talks have not begun.
The director of the first two films, Stephen Sommers, will be producing the third installment. The script was pened by Alfred Gough and Miles Millar.