In August 2007, reports emerged that My Bloody Valentine would reunite for the 2008 Coachella Valley Music and Arts Festival in Indio, California, United States; this was later confirmed by Shields, along with the announcement that the band's third studio album (which he had begun recording in 1996) was near completion. In June 2008, My Bloody Valentine played two live rehearsals at the Institute of Contemporary Arts in London, their first public performances in 16 years. They began an extensive worldwide tour in summer 2008 (their first since their 1992 tour in support of "Loveless") including appearances at Øyafestivalen in Oslo, Norway, Electric Picnic in Stradbally, Ireland, and the Fuji Rock Festival in Niigata, Japan. The band reportedly spent £200,000 on equipment for their world tour.