There has been a great deal of back and forth for a mini map. I personally support a mini-map, for the following reasons:
The compass usually stops working ten minutes into game.
The information for ore, plants, etc. can sometimes (when working) be seen on the main map when opened.
A mini map on a screen shot for bugs could easily narrow down specific locations and help with faster fixes of issues with mobs, floating nodes, etc. and so on.
It could be a toggle off or on in settings making it completely optional to use.
It already exists with mods and people are most likely going to use it whether others like it or not.
It makes the constant walking traveling a little easier to navigate (this is a pretty big one for me, I hate having to stop every one to two minutes to make sure my map note is still where I put it, or when it stops showing up all together on the compass and I need to make sure I am heading where I want to go).
Things which could be implemented:
The tracking of resources from the compass to the mini map, with a bonus of saving the ones you have previously found (mined/cut down/harvested/etc.) You would be required to have interreacted with them at least once to save them to your map.
Saved map notes. (Permanent map notes for yourself on your mini maps to mark specific things you deem important)
In closing, it would eliminate the need for an outside piece of software which may or may not interfere with the game. Oh, and on an off topic, being able to customize the ui in general would be pretty nice too.