In a large saucepot, add all ingredients and bring to a boil over medium heat. Lower heat, cover, and simmer for 10 minutes. Stir halfway through.
Remove lid, stir, and simmer for another 6 minutes, uncovered.
Let the pot sit for another 30 minutes uncovered. This will thicken the sauce and blend the flavors.
Remove cinnamon sticks and star anise before serving.