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INVESTMENTS IN JOINT VENTURES AND ASSOCIATE | 12 Months Ended
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Dec. 31, 2019
INVESTMENT IN JOINT VENTURE |
INVESTMENTS IN JOINT VENTURES AND ASSOCIATE | 9. INVESTMENT IN JOINT VENTURE The Company’s Puren joint venture investment is accounted for under the equity method and had the following carrying values:
|  | December 31, |  | December 31,
|  | 2019 |  | 2018
Investment in joint venture - Puren |  | $ | 18.4 |  | $ | 18.3
|  | $ | 18.4 |  | $ | 18.3
There are no publicly quoted market prices for Puren. The equity in earnings (losses) of joint ventures is as follows:
|  | Years ended December 31,
|  | 2019 |  | 2018
Puren (a) |  | $ | 0.1 |  | $ | 0.1
Bald Mountain Exploration Joint Venture (a), (b) |  |  | — |  |  | (0.4)
|  | $ | 0.1 |  | $ | (0.3)
| (a) |  | Represents Kinross’ share of the net earnings (losses) and other comprehensive income (loss).
| (b) |  | On October 2, 2018, the Company acquired the remaining 50% interest in the exploration joint venture it did not already own. See Note 6v.

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