A separating device for separating a mixture of magnetizable and non-magnetizable particles present in a suspension conducted in a separating channel, has a ferromagnetic yoke, which is arranged on one side of the separating channel and made of sheet metal and which has at least one magnetic field generator for generating a magnetic deflecting field and a separating element arranged at the exit of the separating channel for separating the magnetic particles, wherein the magnetic field generator provided is a coil arrangement, having coils which can be controlled via a control device in grooves of the yoke along the separating channel such that a deflecting magnetic field, particularly a travelling wave, deflecting substantially toward the yoke; and being variable in terms of time is produced, having substantially field-free regions passing over the entire length of the separating channel.