Within this work, a permanent-magnet-based nonlinear energy sink (PM-NES) integrated with an electromagnetic energy harvester (EH) is introduced for the simultaneous purposes of vibration control and efficient energy harvesting. The system considered comprises the PM-NES oscillating inside an electrical coil that is connected to a variable resistive load, as well as a linear damper, a nonlinear cubic spring, and the targeted harmonically excited linear oscillator (LO). The mathematical model governing the nonlinear oscillation of the coupled subsystems is derived. By applying the complexification-averaging method, the normalized equation of motion is analyzed, and the autonomous dynamical system governing the slow dynamics of the whole system is extracted. The slow invariant manifold (SIM) is constructed, and the conditions for the targeted energy transfer (TET) mechanism as well as the onset of strong modulation response (SMR) are analytically established. The proposed design allows the PM-NES to oscillate under one of three damping regimes: (i) passive damping only when the electromechanical coupling is deactivated; (ii) active frequency-dependent electromechanical damping, arising solely from Lorentz-force interactions between the moving magnet and the coil in the absence of the linear mechanical damper; (iii) mixed damping, resulting from the combined action of both mechanisms. Utilizing the continuation method, we explore the system steady-state dynamics under different damping mechanisms through frequency response curves, time-domain simulations, and bifurcation diagrams. The main findings demonstrate that the PM-NES operating under the purely active damping regime achieves superior vibration attenuation efficiency and enables complete harvesting of the energy trapped by the NES into electrical energy. In addition, it is found that within the damping regime, both the TET mechanism and SMR can be effectively tuned via a simple adjustment of the electrical resistive load, such as using a potentiometer. These results are validated analytically and numerically, showing that the PM-NES under the Lorentz-force damping mechanism alone offers a significant practical advantage over conventional mechanically damped NES designs.