Utilize the input text as a context reference, choose the right relationship between 'Codelco' and 'copper' from the options.
Options: product/material produced, headquarters location, position held, owner of

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.
product/material produced