Magnets have a seemingly magnetic attraction for swarf, chips and other shop detritus.
I have a keyless chuck but I stick my mill/drill depth stop quick nut to the frame using a magnet glued to the nut. Since it always stays up there away from the area where chip generation occurs, it works fine and doesn't collect whiskers.
However, there are uses where exposure to swarf is unavoidable. An extension magnet used to pick up stuff dropped on the floor (old guys like me with bad backs love 'em) will inevitably grow whiskers of swarf whenever it gets near the floor. I solve this problem by wrapping the magnet in aluminum cooking foil. When the whisker load gets too great, simply unwrap the foil over the trash can and the swarf falls into the bin. Rewrap with new foil and you're good to go.
It's handy to remember the foil trick whenever you need to get a magnet near the swarf hot zones. Magnetic bases for indicator holders stuck on the lathe ways are an immediate example; your work will suggest others.

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