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Might be intended to take the Annoying Spring. The one that means you absolutely can't leave the key in the chuck - or do anything else much.
Some chuck keys are supplied with a spring and collar as a safety device. The sprung collar prevents the chuck key being left engaged in the jaw screws, to prevent launching the key into low earth orbit (or the user) if the lathe was started with key in place. The collar is usually retained by a spring clip of some sort. The groove on your dark-coloured key may have been included so the makers could offer the key with or without the spring and collar. Hope this helps.