An assembly for loading and conveying ferrous metal articles including a magnet having north and south poles, an axis between the north and south poles, the poles forming an annular belt support; a powered conveyor belt extending over the belt support for rotating the magnet, the magnet being segmented along the polar axis, a first polar axis segment being a magnet mounting plate, a plurality of second polar axis segments being sub-magnets, each such sub-magnet overlying or underlying the magnet mounting plate having north and south poles, and having a polar axis, and a third polar axis segment being a sheath extending annularly about the magnet's first and second polar axis segments, the sheath having a radially outer surface forming the magnet's annular belt support.