An apparatus and associated method are provided for collecting debris from a tool. A housing defines a channel, at least one of the tool and the housing being selectively movable to operably orient the tool at a predefined reference relationship to the channel. A magnetic member is operable to demagnetize at least one of the tool and the debris. A windage source in fluid communication with the channel is operable to establish a windage contacting the tool to cooperate with the magnetic member in removing the debris from the tool. A conduit connected to the channel collects the removed debris.