Speaking at a QRC event last week, ASX chief executive and managing director Elmer Funke Kupper said the introduction of exploration tax credits – also known as flow-through shares – in Canada had resulted in it becoming the world’s leading country for resources companies to raise capital.

QRC chief executive Michael Roche welcomed Funke Kupper's advocacy for the tax break, which allows loss-making exploration companies to pass through some of their non-deductible exploration expenses to their end investors.

“It is an issue we have raised over a number of years with the federal government and it was in the list of promises prior to the 2007 federal election,” he said.

“We hope that the addition of Mr Kupper's voice to the calls for exploration tax credits will help put the issue back on the agenda.”

“Greater exploration and resources production will generate more employment, wealth generation, increase royalty and tax contributions, and produce higher shareholder returns.”

Roche described exploration as the resources sector’s “R&D”