Feb 17 (Reuters) - Grange Resources Ltd GRR.AX :
* Impairment is due to lower than forecast iron ore prices arising from the continuing downward pressure the iron ore market is experiencing
* Impairment is non-cash and does not affect the company's cash position or operations
* Considers it likely that review will indicate a non-cash impairment of carrying value of savage river assets of between A$220 million and A$250 million after tax
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