Fortescue Tumbles From Top Spot

The video discusses Fortescue's challenges due to changing market demands, particularly China's shift towards higher quality iron ore to reduce pollution. Fortescue, once a thriving company, faces losses and is the only one among Australia's largest mining companies to do so. The company plans to change its product mix and diversify its market beyond China. Elizabeth Gaines will take over as CEO, facing challenges like entering new markets and reducing debt while maintaining investor returns.

How has Fortescue's financial performance changed recently, and what are the implications?

What strategies is Fortescue considering to diversify its customer base?