Great news for fans of the Lord of the Rings who are desperate for The Hobbit to be made.. Production Weekly have just tweeted that ‘Guillermo del Toro’s adaptation of J.R.R. Tolkien’s “The Hobbit” is due to begin a 14 month production schedule this June in New Zealand.’

The one issue may come as MGM are currently in massive financial difficulties and until all that mess gets sorted out, it could well be that The Hobbit may be delayed although New Line / Warner Bros. are looking at the movie (which will be in two parts) will be released December 2011 and December 2012.