Jan. 24 (Bloomberg) -- Newmont Mining Corp. is focused on internal growth, Chief Financial Officer Russell Ball said.

“Generally what we find is paying a 30 or 40 percent premium, it’s tough to make money for our shareholders,” Ball said today at an industry conference in Toronto organized by TD Newcrest Inc., referring to company takeovers.

“Our focus is internally,” he said. “That’s not to say we won’t do transactions.”

To contact the reporter on this story: Liezel Hill in Toronto at lhill30@bloomberg.net

To contact the editor responsible for this story: Simon Casey at scasey4@bloomberg.net