Queensland Resources Council chief executive Ian Macfarlane . Picture: John Gass Business Staff writers Premium Content Subscriber only The Queensland Resources Council has welcomed an announcement of a $100m, four-year renewal of its Junior Minerals Exploration Incentive. QRC chief executive Ian Macfarlane said the federal government's move would help Queensland explorers bring new technology like remote sensing, machine learning and bio-indicators to the field. "The program will give eligible exploration companies access to tax incentives to attract new investors into the sector and potentially benefit 500-plus mineral exploration companies currently operating across Queensland," Mr Macfarlane said. He said about 70 per cent of exploration companies in Queensland have a market capitalisation value of less than $500m, meaning they're eligible to apply for tax incentives under the renewed JMEI program.