This made me read twice. I don't think the Arequipa amount (IMO) would come close to covering the Tesoro potential takeout, but it sure is interesting:
Mining investments in southern Peru to attract US$23.3bln
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Lima, Sep. 13 (ANDINA). The southern region of Peru could become an important hub for mining investments for the next years if the mining projects portfolio, worth some 23.6 billion dollars in six regions, become a reality, reported on Tuesday Peru's National Society of Mining, Petroleum and Energy (SNMPE).
SNMPE’s president Pedro Martinez noted that the mining investments in Tacna, Moquegua, Puno, Arequipa, Cusco and Apurimac represent 54 percent of the mining investment portfolio in the country (42.6 billion dollars) for the period between 2011 and 2020.
Martinez went on to say that the mining project portfolio in Apurimac allows investments for 8 billion dollars, 6.2 billion dollars in Moquegua, 5.23 billion in Arequipa, 2.83 billion dollars in Cusco, 649 million dollars in Puno and 390 million dollars in Tacna.
Some of the projects in the regions include Las Bambas – Apurimac (4.2 billon dollars), Pampa de Pongo – Arequipa (3.9 billon dollars), Quellaveco – Moquegua (3 billon dollars), Hierro Apurimac – Apurimac (2.3 billon dollars), Los Calatos – Moquegua (2.2 billons dollars) and Antapaccay – Cusco (1.5 billon dollars).
Also, Los Chancas – Apurimac (1.2 billion dollars); Cerro Verde – Arequipa (1 billon dollars); Tia Maria – Arequipa (950 millon dollars); Chucapaca (700 millon dollars); Southern Peru Copper in Moquegua and Tacna (600 million); Quechua – Cusco (490 millon); and Corani – Puno (428 millon).