For Mustard-Molasses Glaze: Mix together until combined.
For the lamb chops: Preheat the grill to medium heat. Brush each lamb chop on both sides with olive oil and season with salt and pepper to taste. Cook the chops on one side for 3 to 4 minutes, or until golden brown. Turn over and cook for 6 to 7 minutes for medium-rare doneness. During the last 2 minutes of cooking, brush the chops with the glaze on both sides.