Crossword Genius

Machine of material interest (4)

Ross

I believe the answer is:

loom

I'm a little stuck... Click here to teach me more about this clue!

'machine' is the definition.
(loom is a kind of machine)

'of material interest' is the wordplay.
I cannot quite see how this works, but
'of' could be 'o' and 'o' is found in the answer.
The remaining letters 'lom' is a valid word which might be clued in a way I don't see.
This explanation may well be incorrect...

Can you help me to learn more?

(Other definitions for loom that I've seen before include "Apparatus for weaving cloth" , "Apparatus for weaving yarn" , "'Appear as a vague form, perhaps threatening (4)'" , "tower" , "Rise up threateningly ahead" .)

I've seen this clue in the Evening Standard.
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