1. Heat oil in large heavy-bottomed nonreactive Dutch oven over medium heat until shimmering but not smoking, 3 to 4 minutes. Add onions, bell pepper, garlic, chili powder, cumin, coriander, pepper flakes, oregano, and cayenne; cook, stirring occasionally, until vegetables are softened and beginning to brown, about 10 minutes. Increase heat to medium-high and add half the beef; cook, breaking up pieces with wooden spoon, until no longer pink and just beginning to brown, 3 to 4 minutes. Add remaining beef and cook, breaking up pieces with wooden spoon, until no longer pink, 3 to 4 minutes.

2. Add beans, tomatoes, tomato puree, and 1/2 teaspoon salt; bring to boil, then reduce heat to low and simmer, covered, stirring occasionally, for 1 hour. Remove cover and continue to simmer 1 hour longer, stirring occasionally (if chili begins to stick to bottom of pot, stir in 1/2 cup water and continue to simmer), until beef is tender and chili is dark, rich, and slightly thickened. Adjust seasoning with additional salt. Serve with lime wedges and condiments if desired.

Slow Cooker Option: At the end of step 1, transfer the cooked beef mixture to a slow cooker; add the rest of the ingredients as directed in step 2. Cook the chili on the high setting for four hours.