In a large flameproof casserole dish heat the olive oil and fry the onions and the carrots for 1 minute. Add in the pancetta and the meat and cook for approximately 3 minutes. Mix in the flour and cook for a further minute.
Now add in the wine and cook allowing the alcohol to evaporate for approx. 2 minutes. Stir in the tomato paste and add in the beef stock with the olives and the mushrooms.
Add the bay leaves and season with salt and pepper. Bring to the boil, cover and cook in a pre-heated oven of 180c for 90 minutes until the meat is tender. Serve with some boiled white or saffron rice.
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