A small, quiet town home to just 11,100 people is set to become the epicenter of the US 'white gold' boom.Magnolia, a blue-collar town in the state's southern region, was once a locus for oil but is on track to become a major producer of lithium, dubbed 'white gold' because of its soft, silvery-white look and the fact it powers most modern tech - from cellphones to laptops and electric cars.Exxon Mobil is planning to build one of the world’s largest lithium processing facilities near the town, with a capacity to produce 75,000 to 100,000 metric tons of lithium a year, , which would be 15 percent of the world's lithium production.
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