Why does borewell water become red after some time?

In my house I have dug a borewell with a 4 inch submersible pump, about 1 year ago, that I use daily. For the initial 6 to 10 minutes, the water that comes out is fine but after 15 to 30 minutes it becomes red. I use compressor to wash the bore well.

Why does this red colour appear?

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