(Corrects to read '3 percent royalties', not '3 royalties' in first paragraph)
LIMA, Feb 20 (Reuters) - Southern Copper Corp won a tender to develop Peru's Michiquillay copper mine with a proposal to transfer $400 million to the government and pay 3 percent royalties, the government said on Tuesday.
Southern beat out local miner Compania Minera Milpo SAA , which proposed a $250 million transfer with royalties of 1.875 percent, the official Proinversion investment agency said. Ten companies had delivered pre-registration documents for the tender, but only Southern and Milpo presented bids. (Reporting by Teresa Cespedes; Writing by Luc Cohen)