Although Meryl Streep has never known real obscurity in her lengthy and prestigious career, she is having something of resurgence. THR reports that the 61-year-old actress is currently in talks to play controversial British Prime Minister, Margaret Thatcher, in a biopic called “The Iron Lady.”

This news comes in the wake of a stream of Oscar nods for her roles in 2007’s “The Devil Wears Prada,” 2008’s “Doubt” and last year’s “Julie & Julia.” And reteaming with her “Mamma Mia!” director Phyllida Lloyd for a high-profile biopic role seems just the kind of project to keep her streak alive.

“Lady,” which is backed by Pathe and Film4, is based on a script by Abi Morgan that “tells the story of a woman who smashed through the barriers of gender and class to be heard in a male-dominated world. The story concerns power and the price that is paid for power, and is a surprising and insightful portrait of an extraordinary and complex woman.”

Jim Broadbent is in negotiations to play Thatcher’s husband, Denis.

Pathe plans to begin production this year.