In 2015, we achieved every strategic objective we laid out at the beginning of the year. We reduced our debt by $3 billion, nearly a quarter of our total debt. We reduced our all-in sustaining costs from $864 to $831 per ounce. We simplified our head office, eliminated management between it and the mines, and accelerated the pace at which information flows between them. We pared down our portfolio, implemented a new system for allocating capital with strict investment criteria, and sold, canceled, or deferred investment in several assets that did not meet those requirements. We renewed our talent among both our management team and our Board.
The second step in rebuilding a partnership culture is to make leaders owners. All of our directors and partners will, over time, become meaningful owners whose net worth is tied to the shares of Barrick. It is our intention that, over time, every person at Barrick will become a shareholder and owner.
Finally, being partners means being transparent. We will be straightforward and open with you, so that you understand and believe in the process by which we arrive at our decisions.
With that in mind, here is our vision for the company going forward.
We start with one immutable trutheverything we do is focused on one goal: creating value per share for our owners, as measured by cash flow per share.
www.sec.gov/Archives/edgar/data/756894/...a16-6189_1ex99d1.htm
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