Mauritania investors unfazed by coup, aid cuts hurt

By Daniel Magnowski

NOUAKCHOTT, Aug 12 (Reuters) - Oil, gold and iron ore producers have shrugged off last week's military coup in Mauritania but workers and shoppers fear cuts to international development aid could plunge them deeper into poverty.

President Sidi Mohamed Ould Cheikh Abdallahi was ousted by a group of military commanders, whose self-styled "High State Council" has said it will appoint a government until elections are held in the desert state, Africa's newest oil producer.

Oil output remains small but foreign firms are increasingly looking for new sources of crude as well as gas, gold and iron ore -- already one of the country's biggest industries.

"It (the coup) has had no effect on operations whatsoever," a spokesman for London-listed Tullow Oil said.

Tulllow owns interests in eight offshore blocks while Spanish energy major Repsol, which is exploring for gas, was equally untroubled.

Gold miner Red Back Mining, which operates the 110,000 oz/year Tasiast gold mine, Murchison United, which has several uranium prospecting licences, and iron ore miner Sphere Investments all issued stock market statements saying business was continuing as usual.

Mauritanians on the street were more worried at the freezing of some international aid that flooded in after democratic polls last year. Washington cut all non-humanitarian aid last week, and on Monday former colonial power France followed suit.