The invention firstly provides a flake molding compound for manufacturing a manhole cover which is environment-friendly and low in cost. The middle core of the flake molding compound is composed of 
glass fiber cloth dipped with resin paste, the 
glass fiber content is 20-40 parts, the resin paste comprises the following materials: 19-23 parts of unsaturated resin, 6-8 parts of low shrinking agent, 1.4-1.6 parts of 
styrene, 0.5-1.5 parts of curing agent, 1.5-1.7 parts of 
zinc stearate, 0.01-0.03 part of 
benzoquinone, 0.2-0.3 part of 
pigment paste, and 40-50 parts of 800-1000-mesh heavy 
calcium carbonate. The invention further provides a method for preparing the flake molding compound. The flake molding compound provided by the invention adopts base 
raw material in low cost, and waste heavy 
calcium carbonate is adopted, so that the flake molding compound is 
environmentally friendly and energy-saving. The flake molding compound manufactured by using the method disclosed by the invention is high in technical content, stable in process, low in cost and strong in 
bearing capacity. The product disclosed by the invention is manufactured as an article which is tight in matching, wear-resistant, 
corrosion-resistant, light in structure, beautiful in style, light in 
self weight and easy to install. The social benefit and the economic benefit are obvious.