SANTIAGO, Sept 28 The world's No.1 copper producer Codelco said on Monday that it was reducing the number of executives on its payroll by 15.6 percent, as the Chilean state-owned miner cuts costs in the face of tumbling prices for the industrial metal.
In the context of the input sentence, determine the relationship between 'Codelco' and 'copper'.
Options: product/material produced, owner of, headquarters location, position held