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The Minium Stone is the main item of Equivalent Exchange 3. It can only be used to craft items a certain number of times. By default this number is 1521 but it can be changed in the config file.
It requires 8 Shard of Minium and 1 Inert Stone to craft. It is basically the Philosopher's Stone for EE3, because although there is still a Philosophers Stone in EE3, it is not obtainable without using Creative Mode.

You can also right-click on a block with the Minium Stone to transmute the block. Be aware this also damages (takes durability from) the Minium Stone.
Like the Philosopher's Stone, the Minium Stone can also be used as a portable crafting table. Press 'C' by default to open the Crafting Table interface.