Add all ingredients to a medium heavy bottomed pot (cast iron works best here), stirring to combine. Bring mixture to boil over medium-high heat, reduce heat to low, and simmer for 1 hour and 15 minutes. The mixture will start out watery but reduce to a jam-like consistency. Stir occasionally to avoid burning the bottom. Season to taste with additional kosher salt and lime juice.

Let mixture cool completely then transfer to an airtight container. Store in the refrigerator for 2 to 3 weeks.