Diego Hernandez, chief executive of the Chilean miner Antofagasta Plc, said on Tuesday that the company could cut costs even further if it does not rebound next month.

Hernandez took part in the mining forum in San Diego, said the gap has been implemented in the cost-cutting plan.

Copper hit a six-year low on Monday as the dollar strengthened and pressure from key buyers in China weakened.

Hernandez told reporters: "It is still not known whether copper prices will continue to remain low, or will rebound."

"But if copper prices do this in the next 30 days, we will take new steps to cut costs."

Last month, London-listed Antofagasta Plc cut its copper production estimate for the third time, saying it would cut about 7% of its workforce.

Company operations branch director in November 20, told reporters that next year the company will attempt to cut costs, but the decline in ore grade limits the operating space.