India: Tirumala Constructions wins Gutupalli iron ore block at 47.75% premium

• Block hosts 1.23 mnt of iron ore resources at an average Fe grade of 53.45%
• G2 exploration status; block spans 29.76 hectares

Tirumala Constructions has emerged as the preferred bidder for the Gutupalli iron ore block in Andhra Pradesh, quoting a final price offer of 47.75% in the latest mineral block auction.The auction outcome highlights continued interest in securing iron ore resources.

The Gutupalli block is located in Bethamcherla tehsil of Nandyala (erstwhile Kurnool) district in Andhra Pradesh and covers around 29.76 hectares (ha), according to the block summary. The area is entirely classified as private land, with no forest land reported.

As per the Geological Report (GR), the block has an estimated 1.23 million tonnes (mnt) of total iron ore resources, with an average iron (Fe) content of 53.45%. The block has a G2 exploration status, with exploration undertaken by MERIT.