I've been wondering about these too.
I stripped an almost identical mag stand, to the one Les posted pictures of, trying to figure out the dimensions, construction, materials, etc…

From what I can figure…
The disimilar metals can clearly be seen forming the sandwich. The two sides are made from 2 Fe plates with pre-bored holes (see image at what look like rivet marks either side of the Al plate). The aluminium core must(?) be cast into a mold with the Fe plates in situ. The whole lot is then bored. The Al filled holes appear to be a way to secure the assembly together, due in part; to joining the dissimilar metals and, to eliminate any Fe disturbing the Al (non-magnetic) core that would (usually) be created using standard Fe fastenings through the sandwich.
The magnet used in mine is a "Dyametrically oppossed" cylinder magnet with an approximate break-away pull of 1Lb.
Unfortunately, regarding the machined mag base faces (mine has 2; underside & rear) it's a little more complicated as, the rear of the casing is also constructed of Al & Fe materials. However, in my base, aswell as the one in the photo, the entire visible area at the back of the internal bore is Al. The Fe plates have been pre-shaped to allow a mag face at the rear.
The only other info I can find is a Wiki page, here – http://en.wikipedia.org/wiki/Magnetic_base
If anyone else has more info, I for one, would be interested.
hth.