Sauté bacon with Iberia extra virgin olive oil in a heavy-bottomed pan over medium heat until bacon renders most of its fat. Add all vegetables and sauté, stirring occasionally, until they are tender and caramelized.

Drain 2 cans of Iberia Organic Black beans and add them to the pan along with bay leaf, cumin, coriander, and broth; bring to a boil. Reduce heat to medium-low and simmer beans uncovered until the liquid is reduced by half.

Season with salt and freshly ground black pepper.

Heat Iberia extra virgin oil in a large saucepan over medium heat. Add red onion and cook, stirring occasionally, for 3 to 4 minutes or until soft and translucent.

Add water and Iberia Organic coconut milk, and bring to a boil. Stir in rice and bring the mixture to a boil. Season with salt and white pepper.

Reduce heat to medium-low to keep the mixture at a simmer. Tightly cover the saucepan, and cook until rice is tender and liquid is absorbed approximately 20 minutes. Remove rice from heat and allow to rest, covered, for 5 minutes. Remove the lid and fluff rice with a fork.