Vale to create compliance department after Brumadinho

Another surge on Thursday as Chinese stockpiles continues to decline.

Rio's already cut $1bn fat in the Pilbara–autonomous vehicles and data analytics will save another $200 million a year on maintenance over the next 3 years.

Chinese iron ore futures soar 5% after government pledges to speed up infrastructure spending since some sectors like telecoms are only "30–40% completed".

Deutsche Bank recently provided a graphical snapshot that covers the returns of a wide span of assets both YTD and since the mid-August meltdown.

Mounting pressure from investors has forced the firm to come up with a $10 billion package of debt-reduction measures.

CHART: The commodity slump has slashed major miners' market valuations to 60–88% below 2011 highs.

The company, already the worst performer in the FTSE 100 index in 2015, has lost almost 60% of its value since the beginning of the year.

Rio Tinto alleges Vale enlisted Ernst & Young "to cover up and sanitize its conspiracy with BSGR" to strip half of the Simandou iron ore deposit from Rio.

But summer likely only the "calm before the storm".