NONCONTROLLING INTEREST

9 Months Ended

Sep. 30, 2012

Note 10:

NONCONTROLLING INTEREST

In January 2011, we acquired the remaining noncontrolling interest in Volclay South Africa (Proprietary) Limited, a part of our chromite business, for approximately $5.6.

In February 2011, we sold 26% of our interest in Batlhako Mining Limited ("Batlhako") to Vengawave (Proprietary) Limited, which is a Black Economic Empowerment enterprise (a "BEE") in the Republic of South Africa. Batlhako is our subsidiary dedicated strictly to mining chromite ore and selling it to one of our other subsidiaries for further processing and sale to the end customer. South African law requires that we have a BEE as a partner in our mining operations and this transaction was consummated to comply with those regulations.

The following table sets forth the effects of these transactions on equity attributable to AMCOL's shareholders:

	Nine Months Ended September 30,
	2012		2011
Net income attributable to AMCOL shareholders	$	53.6	$	46.6
Transfers from noncontrolling interest:
Decrease in additional paid-in capital for purchase of the remaining noncontrolling interest in Volclay South Africa (Proprietary) Limited		-		(5.4	)
Decrease in additional paid-in capital for transfer of 26% interest in Batlhako		-		(3.4	)

Change from net income attributable to AMCOL shareholders and transfers from noncontrolling interest	$	53.6	$	37.8

- Definition

The entire disclosure for noncontrolling interest in consolidated subsidiaries, which could include the name of the subsidiary, the ownership percentage held by the parent, the ownership percentage held by the noncontrolling owners, the amount of the noncontrolling interest, the location of this amount on the balance sheet (when not reported separately), an explanation of the increase or decrease in the amount of the noncontrolling interest, the noncontrolling interest share of the net Income or Loss of the subsidiary, the location of this amount on the income statement (when not reported separately), the nature of the noncontrolling interest such as background information and terms, the amount of the noncontrolling interest represented by preferred stock, a description of the preferred stock, and the dividend requirements of the preferred stock.

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