Thats certainly true on the stage 1 DSO if you take the costs at face value. As SDL show it, the initial component is the cheapest production in the world.
Note though that this is a FOB cost curve. A CIF curve - which is the effective price the producer will get - will worsen given west africans freight disvantage to Asia. So the Stage 1 ore will move to the right
You don't get nomral distributions with cost curves, there is significant skew to right, whereas the low end is bounded. You could unpack the current curve into a distribution with a ruler and some patience.
What this particular SDL curve doesn't show is inducement cost, ie it omits paying back the capital (for any project, not just SDLs). It shows operating cost only.
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