India, July 11 -- State-run Hindustan Copper Ltd (HCL) on Friday said it was moving in a "positive direction" over the proposed takeover of four Chilean copper blocks from State-owned Codelco, with transaction advisors already appointed to study the data and regulatory issues being examined on both sides.

The development assumes significance as India seeks to secure critical raw materials for its green-energy transition and reduce reliance on imports for copper used in electrification and electric vehicles.

"The transaction advisors... are studying data and there are a lot of regulatory things not only this side but from that side as well... we are moving in the positive direction," Hindustan Copper Ltd (HCL) Chairman & Managing Directo...