In the wake of increasing global economic challenges amidst unprecedented political events that may have significant impact on the world economies, Ghana is again blessed with an iron ore mine which is yet to be developed. The mine has the potential to expand the country’s economic progress and have trickling down effects of social progress and sustainable development for its peoples. It therefore becomes imperative to understand the extent of fiscal impacts that Ghana’s Sheini iron ore project is likely to bring. It is against this backdrop that the Africa Centre for Energy Policy (ACEP), through its partnership with WACAM under the auspices of OSIWA, undertook this fiscal benchmarking study. The approach to the study was quantitative. Using an excel fiscal model, the Sheini iron ore project was situated within the geological and project context of Guinea’s Simandou iron ore project to compare Ghana’s mining fiscal policy against the fiscal provisions of the contract between the Government of Guinea and Simfer S.A. The purpose was to determine the level of fiscal convergence between the two projects and use findings as an important guide for improving on the fiscal take from Ghana’s Sheini iron ore project.