"Why is it my greatest fear, because I believe, a Cold War is hugely destabilising for the world economy and will slow global growth and takes away opportunities will lead to excuses for protectionism and nationalism which will be the antithesis of global trade," he said during the opening keynote speech.

"And it heightens the risk that we do not deal with systemic risks. We cannot stop the next pandemic if we are fighting a Cold War. We cannot stop climate change.

"We have to work together on these critical challenges. There is no global problem I can think about which does not require China to be in the room as part of the solution, and its role is growing in this respect."

Goldin said the tensions between China and Australia had major implications for the mining sector.

"And I believe will greatly slow Australia's potential climate change," he said.

Goldin was bullish on metals and their role in combatting climate change.

"But I do think we're going to be seeing and we need to program in an end of fossil fuels, whether it's 2030, 2040 or 2050 will depend on the country," he said.

He tipped a slowdown in demand for coal and petroleum.

"It's more complicated when one talks about iron ore because I see a continued strong demand for steel, but reducing the carbon content in steel will be vital," Goldin said.

"One cannot do the climate transition without steel, how are you going to build a world wind turbine, without steel.

"And so I see robust demand for steel, but increasing pressure in terms of the carbon content."

Goldin said lithium, nickel and rare earths had "tremendously good potential".

"Lithium, nickel demand will increase 8-10 times at least over the coming decade," he said.

"And then we will see huge demand for copper which is vital for grids and we'll be moving into a vital need to rebuild grids."

Goldin also predicted strong demand for hydrogen and potash.

"But, one needs to be more agile, things that you would have thought would have developed over the next 10, 20 years are going to have to happen in the coming couple of years," he said.

"Coming together in Kalgoorlie provides that opportunity to think, to talk to make the deals to act."

Goldin tipped gold to remain around US$2000 an ounce, but told reporters projections for $3000/oz were too optimistic.

"I don't think the market will sustain that," he said.

"But I do think gold will hold its own."