Grandiose claims are not uncommon for Fortescue’s Andrew “Twiggy” Forrest. But when his mining company announced a $3 billion contract with German mining manufacturer Liebherr, it was someone else singing his praises.

“Fortescue’s partnership with Liebherr marks a turning point in the history of the mining industry,” the release quoted Rio Tinto chief Jakob Stausholm as saying. And he didn’t stop there, further praising the “foresight and courage” of “first mover Fortescue”, with the consolation that “while we can’t always be first, we can be fast followers”.