UPDATE 3-Venezuela raises export quota for gold miners
* Companies can now export 50 pct of production
* Rules changed in response to miners' requests (Updates with production estimate, paragraph 3)
By Eyanir Chinea
CARACAS, Aug 12 (Reuters) - Venezuela will let gold miners export half their production, up from 30 percent, the South American country's Central Bank said on Thursday.
The higher export limit came in new rules published in response to requests from private companies. It said the remaining 50 percent of output must be sold to the bank.
Venezuela has some of the region's largest gold deposits in its south. ReutersLink ID='ID:nN29287390' / According to official figures, formal mining in the country produces about six tonnes a year.
The largest gold producer in the OPEC member nation, Russian-Canadian miner Rusoro RML.V, had anticipated the central bank's measure. ReutersLink ID='ID:nN05178295' /
Local Rusoro Venezuela president Andrea Padovani welcomed confirmation in the government's Official Gazette.
"It's very positive," he said. "It gives the companies the chance to pay for spare parts and materials abroad."
Rusoro had warned this year that it may cut a $200 million investment plan in Venezuela unless the export regulations were changed. Padovani said that now its investment plan would be back on track.
Rusoro's main interest is the Choco 10 gold mine in the southern state of Bolivar.
Rusoro's production from Choco in the first quarter was 25,142 ounces, 34 percent less than the same period last year.
It expects to produce nearly 100,000 ounces this year, down from 125,741 last year. But Rusoro foresees higher production of 184,725 ounces in 2011. (Editing by Marguerita Choy)
