(9)	Investments in Affiliates and Joint Ventures

Information about our investments in and advances to affiliates and joint ventures at December 31, 2013 is as follows:

	Ownership Interest	Accounting Policy
Ashapura Volclay Limited	50%	Equity Method
CETCO-Bentonit Uniao Technologias Ambientais Ltda.	50%	Equity Method
Egypt Bentonite & Derivatives Co.	30%	Equity Method
Egypt Mining & Drilling Co.	31%	Equity Method
Egypt Nano Technologies Co.	27%	Equity Method
Maprid Tech Cast, S.A. de C.V.	49%	Equity Method
Novinda Corporation	16%	Cost Method
Volclay de Mexico, S.A. de C.V.	49%	Equity Method
Volclay Japan Co., Ltd.	50%	Equity Method

We record the majority of our equity in the earnings of our investments in affiliates and joint ventures on a one quarter lag. None of our equity investees are publicly traded, and the difference between our investment and the underlying net equity of the investee is immaterial.

In the first quarter of 2013, we acquired 16% ownership interest in Novinda Corporation, a provider of mercury emission control solutions, for $5.0.

We recorded income of $3.2 and $3.9 from our affiliates and joint ventures in 2013, and 2012, respectively, which was primarily generated from Ashapura Volclay Limited, Volclay Japan Co. Ltd, and Volclay de Mexico, Sa. de C.V. In 2011, we recorded income of $5.2 from our affiliates and joint ventures, of which $2.1 related to the sale of Ashapura AMCOL N.V., our Belgian joint-venture which we sold in the second quarter of 2011. The remaining income was primarily generated from Ashapura Volclay Limited, Volclay Japan Co. Ltd, and Volclay de Mexico, Sa. de C.V. In the third quarter of 2011, we also sold our interest in Albagle Enterprise Limited, our Cypriot joint-venture whose operations were mainly in Russia, at an immaterial loss.