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.
Analyze the relationship between 'Codelco' and 'copper' within the context of the input sentence.
Options: position held, headquarters location, owner of, product/material produced