Permanent magnetic load lifters are used for lifting dies, steel blocks, flat stock, castings and fixtures. It is designed for use where larger lifting devices like battery powered magnets or electromagnets are too large, cumbersome, or where hoist headroom is minimal and electricity is not readily available or undesirable for lifting.

Permanent Magnets are devices that retain their magnetic field indefinitely. There are two main classes of permanent magnets which include small particle magnets and anisotrophy based coarse grained magnets. It produces a high magnetic field with a low mass, and should be stable against the influences which would demagnetize it. The desirable properties of such magnets are typically stated in terms of the remanence and coercivity of the magnet materials. These strong magnets have been made from alloys of aluminum, nickel and cobalt with iron.