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EDF cancels long-term supply agreement with Paladin

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EDF cancels long-term supply agreement with Paladin

Paladin Energy Ltd.'s administrators said Oct. 13 that Electricite de France SA terminated the long-term supply agreement signed June 8, 2012, after Paladin failed to pay US$277 million by Oct. 9.

The company appointed administrators to the company after EDF refused to grant a standstill to the company for the payment, previously due July 10.

EDF remains a creditor in the administration process of Paladin.