1. Limited product diversification: Fortescue Metals Group Ltd primarily focuses on iron ore mining and production. This lack of diversification compared to its peers may make the company more vulnerable to fluctuations in iron ore prices and demand.

2. Reliance on Chinese market: Fortescue Metals Group heavily relies on the Chinese market for its iron ore exports. This dependence on a single market can expose the company to geopolitical risks and changes in Chinese economic policies.

3. Higher production costs: Compared to some of its peers, Fortescue Metals Group has higher production costs due to the lower quality of its iron ore deposits. This can impact the company's profitability and competitiveness in the market.

4. Limited infrastructure: Fortescue Metals Group has faced challenges in terms of limited infrastructure, particularly in terms of transportation and logistics. This can result in higher transportation costs and potential delays in delivering products to customers.

5. Environmental concerns: The mining operations of Fortescue Metals Group have faced criticism and concerns regarding their environmental impact. This can lead to reputational risks and potential regulatory challenges, which may affect the company's operations and relationships with stakeholders.

6. Lower economies of scale: Compared to some of its larger peers, Fortescue Metals Group has a smaller scale of operations. This can limit the company's ability to achieve economies of scale, resulting in higher costs and potentially lower profitability compared to its larger competitors.