Prepare fresh pomegranate juice, if necessary.* In a small saucepan over medium heat, cook pomegranate juice, sherry, bay leaf, honey and apple skin; reduce by half. Remove from heat and discard bay leaf and apple skin. Allow reduction to cool; divide evenly and save in two separate containers. In a blender, place 3 tablespoons of olive oil and mint leaves; blend until smooth. Combine the mint and oil mixture with half of the pomegranate reduction to make molasses. Set aside and keep warm. Salt and pepper the lamb and set aside for 20 minutes. Preheat oven to 325F. Heat 1 tablespoon of olive oil in a cast iron skillet.
Brown the lamb on all sides. Place lamb on a roasting rack over a shallow pan and brush on all sides with the remaining pomegranate reduction. Roast in preheated oven. Baste lamb every 7 minutes (5 times). Lamb should be done to medium rare when a meat thermometer inserted reads 135F. Remove lamb from the oven and allow to rest for 7 to 10 minutes before carving into chops. Allow 3 to 4 chops per serving or a half rack per person. Drizzle with mint-pomegranate molasses and serve this pomegranate recipe hot.
*To prepare fresh pomegranate juice, cut 2–3 large POM Wonderful Pomegranates in half and juice them with a citrus reamer or juicer. Pour the mixture through a cheesecloth-lined strainer or sieve. Set the juice aside.