I do not know how to understand the following sentence:

It is important that the approach minimizes the chance of sth. happening.

As far as I know, "it is important" is used with the subjunctive and then it has the meaning of recommendation, advice. EX. It is important that the approach (should) minimize...

I have two questions:
1. Is the sentence above correct at all?
2. Does it mean "The approach should minimize the chance..." or "It is important to mention that the approach DOES minimize the chance..."

It means that it is important that the approach DOES/SHOULD minimize the chance. The form with the indicative mood is gaining acceptability (and certainly communicates the idea well enough), but formal grammar still requires the subjunctive 'it is important that the approach minimize...'.
Students: Are you brave enough to let our tutors analyse your pronunciation?
Thank you MrM.
Just to be sure:
Shall I understand that the sentence can mean both things - 1. that the approach ACTUALLY minimizes the chance (we have taken an approach that minimizes the chance) and 2. that it is recommended to choose an approach that will minimize the chance (we haven't yet taken any approach)?
Aha! I see your point. The subjunctive suggests (2), while the indicative suggests (1)-- however, the latter is an awkward and unclear way of saying

'It is important to note that the approach has minimized/(always) minimizes the chance of sth. happening.'

Clarifying by filling out the meaning will avoid confusion on the part of those (like me) who read the original as an alternative to the subjunctive.