Put the juice and the sugar in a thick walled or non-stick pot/ pan and stir well. Bring to a boil, and turn down the heat to medium low. The juice will keep forming a pinkish froth. Simmer and let this cook, uncovered, until the juice has reduced to about 1/4th in volume (about 1 cup).
The juice should be a little thick now. Do not cook further because this syrup thickens further when it cools down and solidify when refrigerated and will become difficult to pour. What you want is a very thin honey-like consistency which will become like thick honey when cool and refrigerated.
Transfer to a sterilized jar and store in the refrigerator where it should keep for 2 to 3 months. This recipe makes approximately 1 cup of Pomegranate syrup/ molasses.