A Japanese daily says a small to mid-sized Chinese company appears to be halting a mine development project it's been jointly seeking with a North Korean firm.

The Asahi Shimbun cited a related industry official as saying the halt is China’s way of implementing sanctions against North Korea mandated by a U.N. Security Council resolution.

According to the report, the Beijing-based investment firm signed a contract with the North’s Korea Mining Development Trading Corporation a few years ago. The project to develop the North's Hyesan copper mine was one of the biggest joint deals in North Korean history.

But Asahi said the Chinese firm recently announced the halt to the project worth several hundred million Korean won.

Officials from the Chinese firm are reportedly declining to respond to the move, but the report suggests it likely has to do with the North Korean partner firm being placed on a U.N. sanctions list.