Stokes puts brakes on billionaire truck battle

Seven Group chair Ryan Stokes has sought to ease tensions with Andrew Forrest after revelations the Fortescue Metals Group chair took a swipe at the Stokes empire over a trucking deal.

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Mr Stokes is the son of billionaire entrepreneur Kerry Stokes, whose business interests include Seven Group Holdings and its WesTrac arm and Seven West Media.

“(Seven Group Holdings) and WesTrac consider FMG one of our most important and highly valued customers, we will do anything to support them in their mining and broader ambitions,” Mr Stokes said in a statement issued by the Stokes' family's private company Australian Capital Equity. 

“We value the relationship we have throughout the organisation. 

“The decision on 50 per cent of their truck fleet was more than 12 months ago. 

“Yes, it is disappointing – as it is to lose any deal – but we have been actively engaged on current and future deals.

“As far as Seven West Media goes, editorial decisions are completely independent as you would expect.”

A spokesperson for Seven West Media has not responded to requests for comment.

Business News revealed yesterday that Mr Forrest had shared concerns with Fortescue staff that negative media coverage followed the miner’s decision to choose Liebherr for a contract over WesTrac.

It was part of a plan to transition Fortescue’s mining haul truck fleet from diesel to low emissions vehicles.

Fortescue announced in June that Liebherr and Fortescue Future Industries’ Williams Advanced Engineering arm would work together to supply the miner with 120 new haul trucks.

That would be about 45 per cent of Fortescue’s fleet.

Speaking to journalists at a media briefing for the company’s half yearly results this morning, Mr Forrest said media reporting over recent weeks had been irresponsible.

He said one "particular media outlet" had been "trying to cause concerns in the community".

The mining magnate also defended the Liebherr deal, saying it would increase local content.

He said WesTrac had told him they would be unable to bring pollution-free trucks into the mining industry until the 2030s.

“Now I made really clear that if they didn’t change that stance - I don’t bluff - I will bring (Liebherr)  in,” Mr Forrest said.

“And of course there was no way they could see we could do that so I called their bluff.”

Batteries would be installed in Western Australia at large scale, he said, adding to local content.

“I’m very happy to speak to the Stokes family and make sure that we keep them really busy and make sure that they too can profit and enjoy distributing the trucks which we will be partly responsible for,” Mr Forrest said.

It comes after the Fortescue business has been under intense media pressure in recent weeks.

Worksafe said it would take Fortescue to court to obtain documents relating to 34 alleged workplace sexual harassment claims, with Fortescue earlier this week agreeing to provide documents.

The ASX-listed iron ore giant was also reportedly planning to axe 1000 staff.