Mining company Freeport-McMoRan Copper & Gold Inc. (NYSE: FCX)  has broadened its exposure within the energy market by spending a total of $10.3 billion on two rival oil and gas companies.

The Phoenix-based company agreed to acquire Plains Exploration & Production Co. (NYSE: PXP) for about $6.9 billion in cash and stock, as well as McMoRan Exploration Co. (NYSE: MMR) for about $3.4 billion in cash.

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