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Yes, the noun 'minute' (pronounced min-it) is an abstract noun, a word for a period of time. All nouns for time are abstract nouns (second, hour, year, decade, etc.), words for a concept.

Instruments used to measure time (clocks, watches, calendars, etc.) are concrete nouns, words for physical things.

The plural noun 'minutes' is an uncountable noun as word for an official record of the proceedings of a meeting, a concrete noun, a word for a written record.

The word 'minute' (pronounced my-noot) is an adjective, a word used to describe a noun as very small.

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