MAGNETIC WELDING GROUND!
Why do you need the threaded rod and the spring? If you remove the spring loaded rod and connect the ground wire directly to the steel flat bar you'll get a better ground. Those neodymium magnets are pressed hard against your workpiece (much harder than the spring loaded threaded rod) and they're good electrical conductors. I think the threaded rod and spring is holding you back.
I have a magnetic ground that's just a mag base with a ground wire hard bolted to it. It works great.
That is an interesting idea. I also wonder what the difference would be if the lead were connected directly to the flat bar. There are several magnetic clamps on the market that do use a spring and there are quite a few that do not. I would assume that on much higher amperages more surface are would be beneficial but for most uses there may not be a difference.
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