My girlfriends PS3 did something similar to this about a year ago. It would read a disc and if it did not error out in the first minute, it would read said disc forever. Once it took us about 8 tries before it worked properly.
All I did (and it still works flawless today) was take a can of condensed air and blow it into the disc drive. Make sure you do not flip the can over (so it freezes) and blow it in with the can right-side up. Can try some Dust Off or something similar (just nothing that leave any kind of residue).